Tsakalotos: Greece's New Five-Year Bond 'Exceeded All Expectations'

Tsakalotos: Greece's New Five-Year Bond 'Exceeded All Expectations'

Welcoming the results of Greece's attempt to tap the markets on Tuesday, Finance Minister Euclid Tsakalotos said the yield of the coutry's first post-progamme five-year bond issue had "exceeded all expectations". The minister said it was extremely positive that several long-term investors were among those making bids to buy the syndicated five-year bond, thus greatly restricting the number of speculative funds. Bids for the Greek bond exceeded 10 billion euros, with the Greek state raising 2.5 billion euros at a yield of 3.6 pct and an annual fixed coupon for investors of 3.45 pct. Briefing the parliament plenary on the results of the bond issue, Tsakalotos said he was convinced this marked the start of a shift from hedge funds to normal investors.

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