Greece in 1st bond sale | business | Hindustan Times
Today in New Delhi, India
Sep 21, 2017-Thursday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Greece in 1st bond sale

Greece is poised to return to the financial markets next month with the first debt sale since it was forced to accept a euro 110 billion bailout in May.

business Updated: Jun 27, 2010 23:34 IST

Greece is poised to return to the financial markets next month with the first debt sale since it was forced to accept a euro 110 billion bailout in May.

Athens plans to raise up to euro 4 billion in July by selling short-term bills, with maturities of up to one year, to domestic and international investors.

The bond sale will test investors’ appetites after a recent downgrade by the credit rating agencies.

The benchmark Greek 10-year bond yield trades at 10 per cent, above UK’s 3.5 per cent. At these levels, borrowing from capital markets is unaffordable, analysts said.