



Investors’ bids on a new Greek 10-year bond issue exceeded 11.3 billion euros on Tuesday, with the interest rate of the issue set at 3.9 percent, according to sources quoted by the Athens News Agency.

Earlier in the day, Greek authorities had said that bids exceeded 10 billion euros in an announcement at the Athens Stock Exchange.

The book-building process opened on Tuesday morning, with first evidence showing that the yield of the new 10-year bond would range between 3.9 percent and 4.0 percent.

The Greek state is expected to raise around 2.0 billion euros from the bond issue, as part of its annual borrowing requirements of around 7.0 billion euros in 2019.

Greece emerged from international bailouts six months ago and was encouraged to make the move after Moody’s upgraded its rating by two notches, sending yields on existing debt to 12-year lows.

Greece has mandated that six international banks — BNP Paribas, Citi, Credit Suisse, Goldman Sachs, HSBC and JP Morgan — act as joint lead managers for the issuing of the bonds.



