A reopening of a 10-year Greek bond issue was more than five times oversubsribed during an auction held on Wednesday. The Public Debt Management Authority said that bids totaled 1.7 billion euros, significantly up from the 300 million euros asked.
The interest rate of the issue was set at 4.31%, slightly above the 4.25% of the bond’s coupon, but down from a 4.4% yield in the electronic secondary bond market. The latest issue covers around 90% of this year’s borrowing programme by the Greek state.
Greece has raised around 6.3 billion euros from the markets so far this year, of a target of 7.0 billion euros this year.
SOURCE; ANA-MPA
