Greece opens book on 15-year bond


Greece on Tuesday opened books for a 15-year bond issue, just days after Fitch Ratings its credit rating to BB from BB-, saying economic growth and fiscal prudence were leading to government debt remaining at sustainable levels.

Greek 10-year government bond yields fell to a fresh three-month low of 1.175 percent on Tuesday, nearing the record low of 1.155 percent at the end of October.

The issue is seen as an important test for the country’s Public Debt Management Agency (PDMA) as the new bond will mature in 2035, one year outside the time frame during which the country’s creditors have determined that the national debt will be sustainable. [Reuters/Kathimerini]