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Greece announces bond issue, first under new government

Greece announces bond issue, first under new government | iNFOnews.ca
Greek Prime Ministers Kyriakos Mitsotakis speaks as new government participate on the first cabinet meeting, in Athens, on Wednesday, July 10, 2019. Greece's new prime minister, Kyriakos Mitsotakis, has chaired his Cabinet's first meeting, vowing to change the system of governance so as to improve the daily lives of Greeks and urging his ministers to lead by example.(AP Photo/Petros Giannakouris)

ATHENS, Greece – Authorities in Greece say the country is planning tap financial markets with the issue of a 7-year bond, the first under the new conservative government of Prime Minister Kyriakos Mistotakis.

In a notice released Monday, Greece’s Public Debt Management Agency named banks in charge of managing the auction. PDMA announcements are typically made on the eve of the auction.

Greece is expected to set a 2.5 billion-euro ($2.8 billion) target for its latest bond issue, completing market borrowing needs for 2019 and following successful 5-year and 10-year bond auctions earlier this year.

Low yields in eurozone countries have helped Greece raise money on bond markets after three successive international bailout programs.

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