The book of offers for the 30-year Greek bond was closed, with the offers submitted approaching 20 billion euros, protothema.gr reports.
The interest rate is close to 1.8%. The offer book opened earlier on Wednesday with the initial guidance for the interest rate at MS + 160 base points i.e. roughly 2%. The interest rate fell to around 1.8%, while the final interest rate is expected.
Market estimates noted earlier that a yield close to 1.75% – 1.80% would be a “fair pricing” for 30 years, given that the Greek bond maturing in 2042 has a yield of 1.425% and the 30-year bond of Italy has a yield of 1.582%.
The amount that the Greek State intends to raise has not yet been determined and will be adjusted to the demand of investors.
Nevertheless, an amount close to 2 to 2.5 billion Euros will allow the issue to be reopened later this year.
The 30-year bond is the longest that Greece has traditionally published over time. Now after the decade-long economic crisis, the government wants a new 30-year bond, to put the country back on the screens of dealing rooms.
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