Greece successfully returns to intl bond markets after 4 years

Source:Xinhua Published: 2014-4-10 23:23:55

Greece successfully returned to international bond markets after a four year absence due to the debt crisis, selling 3 billion euro ($4.15 billion) worth five-year bonds at 4.75 percent interest, the Greek Finance Ministry announced on Thursday.

"The Hellenic Republic today announces that it has agreed to sell a 5-year bond in a principal amount of 3 billion euros with an annual coupon of 4.75 percent. The transaction is expected to settle next week," a press statement said, after the closure of the first long-term Green bond auction since 2010.

The process lasted just a few hours on Thursday and demand was very strong, exceeding expectations. The initial goal was to raise 2.5 billion euros at approximately 5 percent interest rate.

"The participation of long-term investors outside Greece is expected to approach 90 percent," the statement stressed.

"This is an official, tangible proof that the country is turning a page. We become sovereign again. It is a great success," Greek Deputy Prime Minister and Foreign Minister Evangelos Venizelos said after a meeting with Prime Minister Antonis Samaras on Thursday.

"Today's event showed that perpetrators act in vain. Nobody paid attention. There was no impact," he underlined, commenting on a car bomb which exploded on Thursday morning outside the Central Bank of Greece headquarters in central Athens, causing material damage but no injuries.

Local terrorist groups which operate in the country for years have intensified attacks against political, police and finance targets since Greece resorted to the European Union-International Monetary Fund mechanism for rescue loans in return of austerity and reforms to tackle the crisis.

"Seriousness, consistency and good coordination were rewarded," Greek Finance Minister Yannis Stournaras said after a meeting with visiting EU Commissioner for competition Joaquin Almunia.

"It is a very good day, because Greece achieved results which vindicate the great efforts of Greek authorities, society and peoples to overcome the crisis," Almunia said.

Athens now expects the positive outcome to strengthen efforts to restore growth and improve the every day life of Greek citizens who have suffered during the crisis, Stournaras stressed.

Posted in: Europe

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