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Greece will return to bond markets, according to reports on Monday. The offers book is open for investors Monday and will remain so for 24 hours. The country invited holders of outstanding 4.75% 2019 bonds to tender them for cash in a switch offer. The government aims to draw €4.03bn at a rate below the 4.95% the previous government had borrowed at in 2014.
The Bank of Greece has licensed three more bad-loan management companies, taking the number of firms with such permits to seven.
The new licenses went to Alvarez & Marshal, Resolute Asset Management and UCI (a BNP Paribas subsidiary), while sources say that the list will soon extend to eight companies, as B2kapital is in the final stage of the licensing process.
Yields on Greek government bonds rose on Thursday after IFR reported six banks had been hired to arrange Greece's first bond sale in over three years.
The Thomson Reuters market news and data service said late Wednesday Greece had mandated Bank of America Merrill Lynch, BNP Paribas, Citigroup, Deutsche Bank, Goldman Sachs and HSBC for a five-year issue. The banks declined comment.
The 18th annual Greek Investor Forum takes place on December 12 at the Metropolitan Club of New York, organized by Capital Link in association with the New York Stock Exchange. Guest of honor at the event will be Wilbur Ross, senior financial adviser to the new president and future secretary of commerce.
Italy will follow up on billions of euros of trade deals signed with Iran this year by sending a special mission to discuss how to fund and process them, Prime Minister Matteo Renzi said on April 13 in Tehran.
Speaking to industrialists on the second and last day of his visit, Renzi said some 50 agreements between Italian and Iranian companies "cannot remain on paper."