BNP Paribas

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BNPP

Greece hires banks for seven-year euro bond

Greece has hired five banks for a euro bond that could come as early as next week, according to sources.

The sovereign has mandated Barclays, BNP Paribas, Citigroup, JP Morgan and Nomura for the transaction, which is likely to have a seven-year tenor.

Greece is rated Caa2 by Moody's, B by Standard & Poor's and B- by Fitch.

The banks declined to comment.

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Pricing of Greek 5-year-bond later today, as Greece returns to market

The Greek government is expected to declare the country’s exit from the memoranda as it prepares to issue a 5-year bond upon returning to the markets later on Tuesday. The exact amount of money and the bond rate the Greek state will draw will become public on Tuesday afternoon.

Greece returns to bond markets (Upd)

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.

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