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Greek 10-year bond yield at 3.9%, bids exceed €11billion euros

Investors’ bids on a new Greek 10-year bond issue exceeded 11.3 billion euros, with the interest rate of the issue set at 3.9 pct, state news agency amna reports citing sources on Tuesday.

Earlier in the day, in an announcement to the Athens Stock Exchange, Greek authorities said that bids exceeded 10 billion euros.

The book-building process opened on Tuesday morning, with first evidence showing that the yield of the new 10-year bond would range between 3.9 pct and 4.0 pct.

The Greek state is expected to raise around 2.0 billion euros from the bond issue, as part of its annual borrowing requirements of around 7.0 billion euros in 2019.

The 10-year bond is the first Greece issues after the crisis of 2010. Last time the country issued one was in March 2010 at a yield of 6%. Two months later, Greece surrendered to to the International Monetary Fund and the rest of creditors.

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