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Straight on the heels of a Greek 10-year bond issue with a record low one percent yield (compared to 45 percent one decade ago), Bloomberg is singing the praises of the prospects of the Greek economy and government and touts the once unthinkable possibility of Greek bonds returning to investment grade (even though they are still at the junk level).
The board of Greek lender Eurobank will meet on Thursday to approve a deal to sell a majority stake in the bank's loan servicing unit FPS to Italy's biggest loan recovery firm doValue, banking sources told Reuters.
The Italian firm has secured an 80 percent stake in Financial Planning Services (FPS), the sources said.
According to an announcement by the Ministry of Finance, Cyprus is expected to issue a 5 year and a 30 year bond as soon as Wednesday.
Barclays, Deutsche Bank, Goldman Sachs, J.P. Morgan, Morgan Stanley and Societe Generale will run the debt issuance which is earmarked for the early repayment of Cyprus' Russian loan.