After the swap, good first time. Greece concluded encouragingly this morning its first government bond auction since its debt restructuring. Of course, the maturity of the bonds - placed for a total value of 1,3 billion - was particularly short (just three months), but the yields recorded a significant drop, going from 4,61% in February to 4,25%. However, this rate is still very high for quarterly bonds, which, moreover, will be covered entirely by the international aid just received by the country.
Good question too, which more than doubled the offer, with a bid to cover of 2,69. Greece remains excluded from the medium and long-term government bond market.
On March 9, Athens had closed the most important phase of a maxi bond swap in the hands of private investors, called to accept a cut on payments that has lightened the Greek debt by over 100 billion euros. Subsequently, the Eurogroup unblocked a new 130 billion euro aid plan in favor of the Greek country.
