FinMin Tsakalotos: Greece can draw financing even when markets are in turmoil

Greece proved that it can draw financing from the bond markets even under adverse conditions, Finance Minister Euclid Tsakalotos said on Thursday, following a meeting with European Finance Commissioner Pierre Moscovici in Athens.

“We proved today, when we accessed the markets, that we can draw new financing and also do so under less than ideal circumstances,” Tsakalotos said, noting that this happened despite the fact international markets have been facing turmoil the last few days.

On Thursday, Greece returned to international capital markets with a seven-year syndicated bond through the launch of a book-building procedure. Offers exceeded expectations, and interest was set at 3.5%.