A reopening of a 10-year Greek bond issue was more than five times oversubscribed during an auction held on Wednesday, ANA reports.
The interest rate of the issue was set at 4.31%, slightly over the 4.25% of the bond’s coupon, but down from a 4.4% yield in the electronic secondary bond market. The latest issue covers nearly 90% of this year’s borrowing program by the Greek state. Greece has raised around 6.3 billion euros from the markets so far this year, of a target of 7.0 billion euros this year.
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