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.

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.

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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.