Greece will borrow 3 billion euros at a 7-year 3.5% yield after the offer book closed with bids close to 7 billion euros. Top sources in the Greek Finance Ministry expressed their satisfaction over the outcome of the offer.
The yield of the seven-year bond sale launched by Greece on Thursday was set at 3.5 pct after the conclusion of the debt sale. Investors made bids amounting to 6.5 billion euros for the bond issue, greatly oversubscribing the finance ministry’s goal of 3.0 billion euros, ANA reports.
After his meeting with European Commissioner for Economic and Financial Affairs Pierre Moscovici, Greek Finance Minister Euclid Tsakalotos said: “We proved today after going to the markets that not only can we raise money, but we can do it under conditions that are not ideal” explaining that there was widespread turmoil in international markets over the past few days.
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