Greece reopens books for 10-year sovereign bond

Source: Xinhua| 2020-09-02 19:23:45|Editor: huaxia

ATHENS, Sept. 2 (Xinhua) -- Greece reopened the 10-year sovereign bond it had issued in June, in a bid to back its cash flow amid the COVID-19 pandemic.

The issue's guidance for its interest rate is at 1.32 percent, after the original issue bore a coupon of 1.5 percent.

The bond, maturing on June 18, 2030, had already brought 3 billion euros (3.6 billion U.S. dollars) to the Greek government in June.

Finance Minister Christos Staikouras said on Tuesday Greece intends to stay in contact with the markets in order to be able to finance the measures to contain the impact of the COVID-19 pandemic on the Greek economy.

Greece announced on Tuesday it has commissioned six foreign banks -- Barclays, Citi, IMI-Intesa Sanpaolo, Morgan Stanley, Nomura and Societe Generale -- as Joint Lead Managers for the second round. They are different from the six banks that had run the original issue in June.

This is Greece's fourth market foray this year, after collecting a total of 7.5 billion euros in three previous rounds this year. It had originally set a budget target range of 4-8 billion euros in bond issue takings. Enditem

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