After three years of absence, Greece returns to the debt market. Athens launched a 5-year bond issue on Tuesday. The operation represents an important litmus test for the Greek government in view of the exit from the third international aid program which will expire next year. It is therefore crucial that Greece is able to return to self-financing on the primary debt market.
The issuance ended successfully. The Ministry of the Treasury achieved its funding target of 3 billion with an interest rate set at 4,62%. A comforting result if one considers that the expectations of analysts, according to the Greek press, were between 4,875% and 4,75%. The total demand for this operation which envisaged the issue of new securities and the replacement of the bond issued in 2014 reached 6,5 billion euros.
(Last update at 16.15)
