ECONOMY

First 30-year bond targeting 3-5 bln euros

Greece plans to raise 3 to 5 billion euros in its debut 30-year bond to be launched next week, the head of the country’s debt agency (PDMA) said yesterday. «We’ll open the book on Monday and hope to close on Tuesday,» the Public Debt Management Agency’s new chief Spyros Papanicolaou told Reuters. «Our focus now is on the 30-year bond issue which will be completed by next Tuesday, where we seek to raise 3 billion euros. Should there be high demand, we can raise it up to 5 billion.» Papanicolaou said the 30-year benchmark issue is taking place at a time when demand for long-dated government paper is strong, with institutional investors seeking assets that match liabilities stretching further into the future than before. (Reuters)