Greece raises 2.5 billion euros from 10-year bond issue

The interest rate of the new 10-year Greek bond was set at 3.90 pct with the Greek state draining 2.5 billion euros from the market, up from an initial target of 2.0 billion euros.

Bids submitted in the book-building process totaled 11.8 billion euros from 419 international investors, up from 290 investors in the five-year bond issue.

The 10-year bond matures on March 12, 2029 and it is subject to the English law.

The Greek state raised 2.5 billion euros from investors’ bid on a new 10-year bond issue, said Greek Finance Minister Euclid Tsakalotos on Tuesday, adding that it was a successful bond issue and proves Greece has exited supervision programmes set by financial institutions and now has access to markets.

Tsakalotos added how “the 10-year bond issue is a measure of our return to economic normality since markets can now lend us capital ten years down the line.”