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Strong demand was reported for a five-year bond issued by Greece’s Public Debt Management Agency (PDMA) on Wednesday, with offers exceeding 13.4 billion euros with the opening of books.
Initial guidance for would-be investors regarding the yield is 95 basis points above mid swaps, namely, 3.97 percent, falling to 90 basis points (3.92 percent).
Preliminary estimates by PDMA officials and the finance ministry have the new bond issue, which matures on June 15, 2028, draining between 1.5 and two billion euros from the markets, or roughly 80 percent of this year’s borrowing schedule by the Greek state.
The joint lead managers for the bond issue are BNP Paribas, Citi, Deutsche Bank, Morgan Stanley, Nomura and local credit institution Piraeus Bank.
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