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Greece sets 2nd bond sale since bailout

  • The government is looking to borrow at least €500 in three-year money, with some believing the country could raise up to €3B in this yield-starved environment. The deal is expected to occur tomorrow, and comes after the EU agreed to release the next tranche of bailout funds (€1B) this week.
  • Greece first returned to the global bond markets in April with a €3B issue of 5-year paper priced to yield 4.95%. Bankers working on the sale reported €20B in orders for notes.
  • Some are skeptical. "There hasn't been a sufficient improvement in Greece's fundamentals; it is purely the liquidity backdrop and the hunt for yield that is allowing them to access the market," says U.K. credit strategist Ben Bennett. "It is a sign of just how crazy and irresponsible the current market situation is."
  • GREK -1.7%
Comments (1)
  • Stanford Chemist
    , contributor
    Comments (341) | Send Message
     
    500 million euros not 500 euros :)
    9 Jul, 11:21 AM Reply Like
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