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Greece €5 Billion 5 Year Bonds Books Now Closed

Tyler Durden's picture




Update: The book has now closed for European Orders at €23 Billion in orders

  • Greece 5yr €uro Benchmark – Books > €11bn/Spread revised
  • Issuer: The Hellenic Republic A2 neg/ BBB+ neg/ BBB+ neg RegS / 144A
  • Amount: €uro Benchmark Cpn: tbc % ann, act/act
  • Settlement: t+5 (tbc) Maturity: 20 August 2015 (5 years)
  • PriceGuide: MidSwaps + 350/365bps ****
  • Leads: CS, DB, Eurobank EFG, GS, MS & NBG + coleads B&D: DB (duration manager) Timing:
  • Books open, pricing no later than mid week

h/t Alphaville




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Mon, 01/25/2010 - 11:20 | Link to Comment bugs_
bugs_'s picture

Get yer Hell(enic) Bonds while they are hot!

Mon, 01/25/2010 - 12:24 | Link to Comment Leo Kolivakis
Leo Kolivakis's picture

Demand for Greek 5-yr Bond – off the wires - Greece's first bond issue of the year received strong demand on Monday as the price offered a hefty premium, holding out the hope that Greece could sooth concerns it can raise financing. Demand reached 16 billion euros, above the initial offered issue size of up to five billion euros, after Greece set initial price guidance on the five-year syndicated bond at mid-swaps plus 375 basis points, banking sources said. The bond issue is a key test of Greece's ability to ride out its worst economic crisis in decades, which has prompted questions about its ability to service its huge debt burden of more than 120% of GDP.
 

Mon, 01/25/2010 - 12:46 | Link to Comment Anonymous
Mon, 01/25/2010 - 15:09 | Link to Comment Leo Kolivakis
Leo Kolivakis's picture

Highly likely that the ECB snapping up those Greek bonds, point being they are not going to let Greece start a domino effect out of the Euro.

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