Greece sells 15-year bond to Reinforce Reservations amid pandemic

ATHENS, Greece — Greece has increased 2 billion euros at a 15-year bond issue, the nation’s finance minister said Wednesday, benefiting from reduced interest rates to bolster cash reserves amid the coronavirus outbreak and ongoing tension with neighboring Turkey.

Finance Minister Christos Staikouras stated the”historically low” interest rate was under 1.2%, along with the bond issue appreciated high need.

A 15-year bond issued in February, the earliest of these lengths from Greece within a decade, had gained a rate of interest of 1.9 percent, Staikouras noted.

“All of this shows and affirms that the trust of the global markets in the direction and prospects of the Greek market,” Staikouras stated in an announcement.

Greece has slowly regained access to global markets after the conclusion of its almost decade-long reliance on global bailouts this past year. In September, the nation increased 2.5 billion euros by re-issuing that a June 10-year bond which had originally increased 3 billion euros.

The government is”raising the nation’s cash funds, in highly uncertain states because of the continuing wellbeing crisis and also the geopolitical tension within our area,” Staikouras explained. “We are conscious that the issues are many and also the challenges great. It’s in our hands to conquer them.”