Greece Aims to Raise Money from Capital Markets by Issuing New 7-Year Bond



Greece opened a book-building process for a seven-year syndicated bond on Holy Wednesday.

The Greek government ordered Citi, Commerzbank, Credit Suisse, Morgan Stanley, Nomura and Societe Generale banks to issue the new seven-year bond, as Athens takes action to strengthen its finances during these turbulent and uncertain times.

The issue will be also eligible for the European Central Bank’s emergency asset purchase program.

Greece’s previous attempt to raise funds on capital markets was on January 28, 2020, with a 15-year benchmark bond at an interest rate of just 1.875 percent.

Back then, bids totaled 18.8 billion euros and the Greek state raised a staggering 2.5 billion euros in the move.

Greece’s Public Debt Management Authority plans to raise a total of between 4-8 billion euros from capital markets this year.