The sponsors of the new 5-year bond issue announced today the Greek State. In particular, the Hellenic Republic has mandated BofA Merrill Lynch, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley and Societe Generale CIB for a new bond issue with maturation on April 2024. The new bond will have a maturation period of slightly over 5 years. Issuing a limited amount of 2-3 billion euros is considered feasible. The transaction will begin in the near future under market conditions, the announcement said.
Meanwhile, the yield of Greek 10-year bond after the adoption of the Prespa Agreement on Friday dropped to a four-month low.
The juncture is favorable as the Greek 10-year bond reaches 4.07%, the lowest point since last September, while the 5-year one, having increased slightly, stands at 3.06%.
A big increase of EUR 3.1 billion in deposits in December
Banks’ deposits grew to 134.5 billion euros, rising by 3.1 billion over a period of one month (households and businesses), according to figures of the Bank of Greece.
In particular, as announced by the Bank of Greece in December 2018, the annual rate of change in total financing of the economy stood at -1.2%, from -1.8% in the previous month and the monthly net flow was positive by EUR 1,765 million , against a positive net flow of EUR 17 million in the previous month.
According to the Bank of Greece, the annual rate of change in total deposits was 10.4% from 6.4% in the previous month and the monthly net flow was positive at EUR 4.752 million against a negative net flow of EUR 240 million in November 2018.
B. Dobrobowsky: The return is a delicate exercise
At the same time, “Greece has returned to growth”, Commission Vice-President Valdis Dobrobowski says in the Athenian/Macedonian News Agency. He notes that during the three adjustment programs the country has implemented a major reform agenda, reforms have been made that have helped to strengthen the competitiveness and the foundations of the Greek economy, which is now growing. He also points out that there is a clear trend of Greece’s return to the markets. He stresses, however, that Greece has been out of the markets for nine years and returning to it is a “delicate exercise” that leaves no room for maneuvers or mistakes./IBNA