Greece raises three billion euros in 10-year bond issue

Greece raised 3 billion euros ($3.4 billion) Tuesday in its third bond issue of the year, managing to wrap up most of its annual borrowing needs before the end of the first half.

The oversubscribed benchmark 10-year issue carried a rate of 1.57%. The government said the successful outcome amid the Covid-19 crisis was a "vote of confidence" from international markets — which during Greece's financial crisis just a few years ago, wouldn't have touched Greek debt issues with a barge pole.

"For the second time since the pandemic broke out, despite the tough economic circumstances, our country has successfully tapped markets," Finance Minister Christos Staikouras said.

Greece exited its eight-year international bailouts nearly two years ago. It had to resort to rescue loans — issued on condition of painful spending cuts, tax hikes and income reductions — in May 2010...

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