Greece sold 3 billion of 5-year bonds at an interest rate of 4.95 % - We were offered 20 billion euros

Greece raised 3 billion euros at an interest rate of 4.95 % during the 5-years bond issue. This is the first bond issued since the country joined the International Monetary Fund. Also, it is possible to proceed to issuing a 7-year or 3-year bond in the future.

According to Newmoney.gr, the book on the offering closed and the bond issue was over covered with 20 billion euros offers.

The representative of the Troika, Paul Thomsen, welcomed the return of Greece to the markets by describing it as a “significant milestone”. The Minister of Finance following his meeting with Mr Antonis Samaras talked about very positive developments, adding that more details will be announced on Thursday.

The question arising is what should be done from now on. According to government sources, there is a possibility of issuing a 7-year or 3-year bond in the future depending on the market developments. Also, the government sources don't rule out the possibility to issue 12-month treasury bills.