Greece mandates investment banks for new 10-year bond issue (updated)
26/01/2021 12:39
(Adds background)
ATHENS, Jan 26 (Reuters) - Greece mandated investment banks
Barclays, Citi, Deutsche Bank, Morgan Stanley, Nomura and
Eurobank to jointly lead manage the issue of a new 10-year bond,
its debt agency (PDMA) said on Tuesday.
"The syndicated transaction will be launched in the near
future, subject to market conditions," the debt agency said
without providing details on the size of the issue.
Greece has said it plans to borrow 8-12 billion euros this
year, as it seeks to maintain a continuous presence in
international debt markets.
It wants to reduce a debt-to-GDP ratio estimated at 208.9%
in 2020 and preserve an adequate cash buffer.
Greece last sold 10-year paper in September 2020, which was
priced to yield 1.21%-1.23%.
Earlier this month Greece raised 2 billion euros ($2.43
billion) by reopening a 30-year bond through a private placement
with two Greek banks, the first borrowing action for 2021.
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(Reporting by Lefteris Papadimas
Editing by Gareth Jones)
((lefteris.papadimas@thomsonreuters.com; +30 210 3376477;
Reuters Messaging: lefteris.papadimas.reuters.com@reuters.net))