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7-Year Bond yield pushed to 1.9% following strong demand

Greece has opened books for a new seven-year bond, its third such issue since it emerged from international bailouts last year.

Initial price estimate was for a yield of around 2.1 percent, financial media report.

According to Greek sources, the bond was was met with strong demand by long-term institutional investors, only a few hours after the launch of the procedure.

Bids submitted exceeded 12.5 billion euros from 2.5 billion sought by the Greek state, the sources said.

The strong demand pushed the yield of the new bond to 1.9 pct from 2.1 pct at the opening of the book-building process.

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