The Greek State is going to the markets with the issue of a 10-year bond, aiming to raise funds to strengthen the cash availability in order to finance the budgetary measures announced to deal with the crisis due to pandemic, but also to maintain a “cushion” of liquidity, protothema.gr reports.
The issuance is expected to take place tomorrow, Tuesday, in an effort to take advantage of the positive climate around Greek bonds, as the new bonds are supported by the ECB’s new QE and the Commission’s announcement of the EU’s Recovery Fund. Greek bond yields have dropped to a three-month low, even lower than Italian bonds.
The issuance will be run by the six international banks designated as main custodians, BNP Paribas, BofA Securities, Deutsche Bank, Goldman Sachs International Bank, HSBC, and J.P. Morgan, while the new 10-year title will mature in June 2030.
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