Big demand for Greek bond issue


Investors stand in line to get a piece of Greece's first longer-term debt offering since being bailed out (said bailout is still ongoing), placing more than €11B in orders for what's expected to be about a €2B offering of 5-year notes, reports the FT. Who's buying? Likely Greek banks, along with investors drawn to a yield with a 5-handle on it.

The robust demand has bankers cutting their expected yield to just 5-5.25%. The last time Greece issued five-year paper - all the way back in January 2010 - it was priced to yield 6.1%.

Earlier today, the yield on Greece's 10-year notes fell below 6% for the first time since the debt crisis.

GREK unchanged on session

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Comments (2)
  • caupachow
    , contributor
    Comments (513) | Send Message
     
    one would think there are better places to find the same yield.
    9 Apr 2014, 01:14 PM Reply Like
  • MisterJ
    , contributor
    Comments (1059) | Send Message
     
    Awesome, people of Greece! A job well done.
    9 Apr 2014, 01:31 PM Reply Like
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