Greece opened its books for a new 7-year bond on Tuesday morning.
The new Conservative government aims to earn approximately €2.5 billion, in an effort to capitalize the recent sharp decline in the country’s interest rates.
The initial estimates suggest that Athens will take the money at a yield of 2.1 percent.
The Greek Public Debt Management Organization believes that this is the best moment to do so, as there is still an after-election ”euphoria” in global markets regarding Greece’s economy.
This is also a very beneficial time since bonds of countries on the periphery of the Eurozone, such as those of Italy, Spain and Greece, are in high demand due to the fact that investors are seeking higher interest rates, something that these nations’ bonds offer, compared to the northern Eurozone nations.