ECONOMY

Staikouras: Successful bond issue a ‘vote of confidence’ in economy

staikouras-successful-bond-issue-a-amp-8216-vote-of-confidence-amp-8217-in-economy

The successful completion of the first 15-year bond sale since the financial crisis is a “vote of confidence” by international markets, Finance Minister Christos Staikouras said on Tuesday, after Greece gathered record orders.

Investor demand for the 2.5 billion euro bond exceeded 18.8 billion euros, the biggest order book since Greece returned to the international bond market in 2017 after a debt crisis that locked it out for years.

“The long-term of the issue, the high demand, the low borrowing cost and the excellent quality of the issue, improve the Greek debt’s yield curve, build a long-term investment profile and strengthen the public debt’s sustainability,” he said in a statement.

"The issue is a vote of confidence by international markets in the implemented economic policy and the country’s outlook,” he added.