ECONOMY

Finance minister says bond issue ‘appears successful’

finance-minister-says-bond-issue-appears-successful

Greece’s finance minister said Wednesday the country has carried out a successful bond auction, reopening a June 10-year issue that had raised 3 billion euros ($3.55 billion) with a yield of 1.50%.

The move comes as Athens seeks to boost its cash reserves for additional support to pandemic-hit businesses, as well as to increase defense spending amid a crisis with Turkey over Eastern Mediterranean drilling rights.

Speaking in a radio interview, Finance Minister Christos Staikouras said the auction “appears to be successful” and had achieved a lower yield than the June sale.

He gave no further details pending the official announcement of auction results later Wednesday. [AP]