Gov’t planning second foray into global bond markets

Next month Athens will dip a toe into international markets for a second time this year, probably between November 13 and 23.

This time the Finance Ministry is planning to create four new issues, probably of 5 billion euros each, with a maturity period of five and seven years, to replace 20 separate issues with a current value of 20 billion euros maturing between 2023 and 2042. This move means that the Public Debt Management Agency will not be asking for new capital, but rather to improve the mix of interest rates and the marketability of bonds.

The conjuncture is seen as favorable, as the first stage of the third bailout review was conducted smoothly. The ministry would also prefer that the issue take place before the return of the creditors’ representatives in about a month’s time and definitely before December, when markets are not so fertile for such initiatives.