Greece Launches EUR 3 B Bond Emission on Markets

Business » FINANCE | April 10, 2014, Thursday // 13:08
Bulgaria: Greece Launches EUR 3 B Bond Emission on Markets Greek Finance Minister Yannis Stournaras. Photo by EPA/BGNES

Greece is set to return on capital markets on Thursday, launching EUR 3 B worth of bonds, the first such action in more than four years.

According to results of initial price talk for the bond sale, the nation may pay between 5 and 5.25 of yield to borrow, but the rate on Thursday morning was as low as 4.95, the website reported.

Greek Finance Minister Yannis Stournaras declared that the bond sale results would soon be published.

Commenting on Greece's return on capital markets, Stournaras said for Kathimerini newspaper that Greece was "near exit from the crisis" that had been rocking it over the last four years.

He added that after fiscal measures and structural reforms "the Greek economy has started to show the first encouraging signs of stability and growth".

Stournaras expressed his belief that the country should now seek ways to boost growth and create jobs to tackle the its already long-standing unemployment problem.

Greece left the bond markets in March 2010, in a desperate push to deal with its debt though EUR 240 B worth loans by the European Commission, the European Central Bank and the IMF.

Last month it was agreed that the country receive a EUR 8.3 B tranche of its bailout package, which is expected to be among the last sums Athens will have to be granted by the so-called "Troika" of international lenders.

Greece's moves on capital markets follow a day of general strike, in which both the public and private sector demanded an end to austerity measures and privatization schemes, including those involving the larger ports of the country.

Government officials are however adamant that the last series of anti-crisis steps will be taken despite mass protests.

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Tags: bonds, markets, Stournaras, capital, crisis, debt, tranche, troika, lenders
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