ECONOMY

Greece announces return to capital markets

Greece announces return to capital markets

Greece announced its return to international capital markets on Tuesday and mandated six banks to run a reissue process for a 7-year bond maturing in April 2027.

The 7-year bond issue carries a coupon of 2% and yields 2.013%.

The decision to return to capital markets follows Friday’s upgrade by Standard & Poor’s of Greece’s credit rating by one notch to BB+ with a stable outlook from BB with positive outlook. This rating is only one notch away from investment grade.

The Public Debt Management Agency mandated BNP Paribas, BofA Securities, Citi, Deutsche Bank, Goldman Sachs Bank Europe SE and JP Morgan for the issue. [ΑΜΝΑ]