Greece successfully taps market with seven-year bond

Greece launched a seven-year bond auction on Thursday, its first attempt to tap the international markets this year. It drew strong investor demand despite upheaval in global markets. 

The issue achieved a yield of 3.5 percent, against a starting rate of 3.75 percent, and was more than twice oversubscribed, attracting offers of more than 6 billion euros. 

The aim of Thursday's issue - the third since last summer - was to raise at least 3 billion euros for a cash buffer that Greece wants to have in place after its scheduled exit from the country's third international bailout in August. 

The bond auction coincided with a visit to Athens by European Economic Affairs Commissioner Pierre Moscovici, who met with government officials to discuss the prospects for Greek debt relief and the nature of post-bailout supervision by Greece's creditors. 

Moscovici said the...