The Greek government on Tuesday mandated four international investment banks, along with local lender National Bank, to float a new 30-year bond, according to the country’s Public Debt Management Agency (PDMA).
“The syndicated transaction will be launched in the near future, subject to market conditions,” PDMA stated.
The issue will mark the first time since 2008 that Greece has floated a 30-year bond, seen as yet another threshold in the country’s normalized borrowing since needing three successive bailouts from 2010 to 2015.
Athens raised two billion euros in early January by re-opening a previous 30-year bond via the private placement with another two local banks. The yield for that issue hovered at 1.5 percent.
