Athens drew €2 billion from international capital markets on Holy Wednesday, following the successful issuance of seven-year syndicated bonds.
Greece “has accessed global markets today, through adverse social and economic conditions created globally by the pandemic, and succeeded,” Finance Minister Christos Staikouras said following the positive news.
Greece raised a total of 2.0 billion euros at an interest rate of 2.05 percent.
Staikouras said that the interest rate “is a positive development, since the borrowing cost is equal to that of the July 2019 bond, when the financial conditions were much better.”
The Finance Minister also noted that the rate ”is also much lower of the corresponding bond of March 2018, when the interest rate was 3.5 percent.”
It is noted that the majority of investors were foreign and institutional investors.
“Given these factors, the economic and political project was successful, and the confidence markets have in the government policy is confirmed,” the Finance Minister said, adding “Greece has proven that it can be successful, even in adversity.”