ATHENS, April 15 (Xinhua) -- Greece borrowed 2 billion euros (2.18 billion U.S. dollars) through the issue of a new seven-year bond on Wednesday, Greek national news agency AMNA reported.

It is a move meant to illustrate the country's self-confidence, according to the Greek finance minister.

The issue secured an interest rate of 2.05 percent, below the original guidance, thanks to the high demand for the issue.

The new bond will mature in April 2027 and is eligible for the European Central Bank's extraordinary bond-buying program.

"We have made a decision to open up to the markets, we have to make market forays on a regular basis," Finance Minister Christos Staikouras told local Mega TV on Wednesday.

"We do not do it because we have the same need as other countries to raise money from the markets but to prove Greece has self-confidence and can step on its own two feet, and that even in a very deep health crisis it can respond to it, facing the future with optimism. This is a step for both the economy's today and tomorrow," explained Staikouras.

Greece's Public Debt Management Agency announced at the start of the year it aimed at drawing between 4 and 8 billion euros from the bond markets in 2020.

In January Greece drew 2.5 billion euros via the auction of a 15-year bond. (1 euro = 1.09 U.S. dollars) Enditem

Related

Go to Forum >>0 Comment(s)