High participation rate helps bond swap tick box
Greece continues debt management with swap of bonds worth 30 bln
Retail sales continue their rise in July as consumer confidence improves
Rating agencies concur in improved prospects for Greece
Fitch upgrades Greek rating to B-, sees debt sustainability improving
Greece completes first bond issue in three years, eyes more on way out of programme
Greece raised lower than expected amount from 3-year bond issue, yield at the high end
Following Wednesday’s press release revealing that Greece has mandated international banks for a benchmark bond issue, the Finance Ministry (MoF) announced on Thursday that Greece sold a 3-year bond in a principal amount of 1.5 billion euros at a yield of 3.5 percent.
The amount of the syndicated sale is almost half compared to the 2.5 - 3 billion rumoured in the past few days, while the yield stands at the high end of initial estimates.
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