Greece on Wednesday opened the book-building process for the reissue of a 7-year bond, originally issued in April 2020.
The lead guidance for the interest rate is expected at mid swaps +115 basis points, in the area of 2.57%.
The 7-year bond matures in April 2027 and carries a coupon of 2% and yields 2.013%.
Greece’s return to capital markets comes after S&P upgraded the country’s credit rating to BB+ with a stable outlook, just one notch below investment grade.
Greek authorities plan to issue new bonds worth 12 billion euros this year, down from 14 billion in 2021.
The Public Debt Management Agency has already issued a 10-year bond raising 3.0 billion euros at an interest rate of 1.83%. [AMNA]