The country plans to borrow a total of 7 billion euros this
year through new issues and reopening other maturities. It
raised 3.5 billion euros from a new 10-year bond in January.
"The fact that Greece will not issue another syndicated bond
this year boosted demand," Boukas added.
Mitsotakis called parliamentary elections for May 21 but the
vote is unlikely to produce a clear winner, setting the stage
for protracted political manoeuvring and a runoff vote.
($1 = 0.9224 euros)
(Reporting by Lefteris Papadimas and Yoruk Bahceli; Editing by
Alexander Smith)
ATHENS, March 28 (Reuters) - Greece raised 2.5 billion
euros ($2.7 billion) on Wednesday with strong demand for a new
5-year bond, the day after Greek Prime Minister Kyriakos
Mitsotakis called elections in late May.
Traders said Greece's debt agency was aiming to cover most
of the annual borrowing needs before the country entered to a
protracted pre-election period.
"It was the right decision at the right time," told Reuters
Kostas Boukas asset manager at Beta Securities in Athens.
The final pricing for the 5-year bond was set at mid-swaps
plus 90 basis points. Demand exceeded 19.1 billion euros, the
country's debt agency said in a bourse filing.
Greece covered almost 90% of its annual borrowing needs with
the new syndicated bond, paying a yield of about 3.93%.
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