Greece's Public Debt Management Agency (PDMA) has given the go-ahead for a handful of banks to proceed with a 10-year bond, the country's first debt flotation in the new year. The issue comes as the country's is seeking cash to fill state coffers amid a second and economically debilitating Covid-19 partial lockdown since early November 2020.
Greece's Public Debt Management Agency (PDMA) has given the go-ahead for a handful of banks to proceed with a 10-year bond, the country's first debt flotation in the new year. The issue comes as the country's is seeking cash to fill state coffers amid a second and economically debilitating Covid-19 partial lockdown since early November 2020.
The agency designated Barclays, Citi, Deutsche Bank, Morgan Stanley, Nomura and Greek lender Eurobank as joint lead managers for a new euro-denominated issue.
“The syndicated transaction will be launched in the near future, subject to market conditions,” PDMA added.
The finance ministry expects to drain some 2.5 billion euros from the markets.
Greece's borrowing plan for 2021 foresees bond issues totaling roughly 12 billion euros.
The yield, based on current 10-year bond performances, is expected to hover between 0.7 to 0.8 percent.