The book-building process for the issue of a new 5-year Greek bond opened on Wednesday, with the initial interest rate set at 95 basis points above the mid swap (3.02%), i.e. at 3.97%.
According to estimates, with the new bond, which matures on June 15, 2028, the State will raise an amount of at least 1.5-2 billion euros, thus covering almost 80% of this year’s loan programme.
Paribas, Citi, Deutsche Bank, Morgan Stanley, Nomura and Piraeus Bank are the underwriters of the syndicated issue.
Since the beginning of the year, the Greek State has raised approximately 3.5 billion euros from the markets. The total loan programme for this year is expected to reach approximately 7 billion euros.