Greece to reopen 15-year bond soon; banks mandated

Credit: REUTERS/Dado Ruvic

Greece has mandated investment banks to manage the reopening of a 15-year bond which it plans to launch in the near future, its debt agency (PDMA) said on Tuesday.

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ATHENS, Oct 20 (Reuters) - Greece has mandated investment banks to manage the reopening of a 15-year bond which it plans to launch in the near future, its debt agency (PDMA) said on Tuesday.

BNP Paribas, Commerzbank, Goldman Sachs, HSBC and JP Morgan were chosen as joint lead managers, and the 1.875% bond matures in Feb 2035, it said.

Greece, rated B1 by Moody's and BB- by Standard & Poor's, raised 2.5 billion euros in September with the reopening of a 10-year bond.

Final pricing in that transaction was mid-swaps plus 140 basis points, resulting in a yield of 1.21%-1.23%, the lowest ever for the country in any bond tender.

Greece emerged from a decade-long debt crisis in August 2018 having returned to international bond markets in 2017. It has raised 7.5 billion euros from bond issues so far this year.

(Reporting by George Georgiopoulos; editing by John Stonestreet)

((george.georgiopoulos@thomsonreuters.com; +30210 337 6437; Reuters Messaging: george.georgiopoulos.thomsonreuters.com@reuters.net))

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