Greece starts floating of new issue of sovereign bonds
LONDON. March 4. KAZINFORM. Greece began the floatation of a new issue of its ten-year sovereign bonds on the world financial markets on Thursday, the business circles of the London City report; Kazinform refers to Itar-Tass.
The emission is expected to amount to five billion euros (some 6.8 billion dollars). The profitability of the bonds will be set during the floating. Specialists from the London City believe its annual rate will be 6.2 to 6.8 per cent.
The finance ministry of Greece chose the banks of Barcap, HSBC, Nomura and Piraeus Bank as lead managers of the issue.
The current floating of the bonds is expected to show to what extent the world market believes in the capacity of the Greek government to resolve the financial problems facing the country; Kazinform cites Itar-Tass.