Greek bond reopening oversubscribed
With rising interest rates, local banks are significantly upgrading their valuations and achieving more convincing returns. However, convincing the market their profitability is on a sustainable and solid footing is more important now that they will start paying out dividends.
Strong investment interest was recorded on Wednesday in the reopening of the 10-year Greek government bond.
According to the Public Debt Management Agency (PDMA), the bids exceeded the auction amount, which was up to 250 million euros, by approximately 3.5 times, reaching €835 million. The yield of the bond was 3.51%.
The Greek state will raise €250 million from the reopening of the benchmark bond.
