| Online: | |
| Visits: | |
| Stories: |
| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Traders queue for Greek bonds: €3 billion at 4.95% yield
Greece raised 3 billion euro at 4.95% yield from the 5-year bond, Greek media report on Thursday, short after the sale was concluded. “The success is beyond expectation” media comment noting that the bids submitted by 550 traders were over 20 billion euro. The deals book closed at 11:30 a.m. Thursday, Capital.gr reports.
It is the first time after four years that Greece issued a bond, the first time after the debt-ridden country sought the aid of International Monetary Fund in 2010. Yesterday, Greek and international media were reporting that the yield would be 5.25%-5.30%.
“The success shows that the Greek debt is sustainable, otherwise traders would not buy the bond,” deputy prime minister and PASOK leader Evangelos Venizelos told the media and accused the opposition of supporting the loan agreement (memorandum of Understanding).
Main opposition left-wing SYRIZA criticizes Greece’s return to international bond markets saying that “it was not necessary to borrow money with an interest rate higher than the one given by the MoU”. SYRIZA accuses the Samaras’ government for going to the markets “just for the sake of creating a positive political atmosphere” ahead the EU and municipality elections in May.
What Venizelos forgot to tell reporters is that the Greek bond runs under English Law that guarantees assurance of payment or compensation even in the event of default.
Source: http://www.keeptalkinggreece.com/2014/04/10/traders-queue-for-greek-bonds-e3-billion-at-4-95-yield/
