Greece on Thursday returned to international capital markets with a seven-year syndicated bond through the launch of a book-building procedure.
It is one of three state bond issues scheduled by the Greek government in the period leading up to the completion of the current bailout programme in August. The aim of these issues is to restore a stable access of the country to capital markets, to facilitate the return to financing normality in the country after the completion of the programme and build a capital buffer.
Thursday’s issue coincides with the completion of procedures of a third review of the adjustment programme as a EuroWorking Group meeting later in the day is expected to discuss the course of fulfilling the last remaining prior actions paving the way for a formal completion of the programme and approval of the disbursement of a loan tranche to Greece.
The Hellenic Republic mandated Barclays, BNP Paribas, Citi, J.P. Morgan and Nomura as joint lead managers for a new offer of a 7-year bond.