ECONOMY

Greece mandates banks to reopen 10-year bond

greece-mandates-banks-to-reopen-10-year-bond

Greece has mandated BNP Paribas, Deutsche Bank, Goldman Sachs Bank Europe, HSBC, J.P. Morgan and Nomura as joint lead managers to reopen a 10-year bond, the debt agency said on Tuesday.

The syndicated transaction for the bond, due on June 18, 2031, will be launched “in the near future, subject to market conditions”, it said.

The Greek Finance Ministry said in December it planned to raise 8-12 billion euros on bond markets this year to cover maturing debt and help pay for state support for businesses and workers hit by COVID-19 lockdowns.

It has raised 9 billion euros so far this year from a 30-year issue in March, its first such maturity in almost a decade, as well as from a 10-year and a 5-year issue.

The last time Greece sold a 10-year bond was in January this year with the paper priced at a yield of about 0.8%.

[Reuters]