Greece delays 7-year bond issue due to negative market climate

The Greek government decided to delay a planned auction of a syndicated seven-year bond due to international turmoil in financial markets which started on Monday, according to sources on Tuesday.

The finance ministry had announced the five banks it had mandated for the transaction – Barclays, BNP Paribas, Citigroup, JP Morgan and Nomura – however the negative climate created in the New York stock exchange temporarily suspended the sale.