THE GREEK government is reportedly primed to issue a sovereign bond within the week, even as the country remains mired in recession.
Greece’s finance minister, Yannis Stournaras, insisted yesterday to domestic media that the state is in no rush to return to the debt markets, but confirmed that the sale will take place during the first half of this year, following previously suggestions.
But Deutsche Bank and JP Morgan have already been lined up to manage the bond issue, which will occur later this week, someone familiar with the situation told the Financial Times.
Klaus Regling, head of the European Stability Mechanism, also told Greek media that the government should not rush to market their debt and not to pay too steep a yield on the bonds.
Greece’s 10-year bond yields have plunged in recent years, down from above 30 per cent during 2012 to just 6.17 per cent today. However, Greece has not issued debt for several years, making the pricing of the three and five-year bonds that are likely to make up the release more difficult.