More public borrowing planned in second quarter
More public borrowing planned in second quarter
4/3/2004 14:01
Greece plans to borrow around 7.5 billion euros in the second quarter, including issuing some 2 billion euros of foreign currency denominated debt, the head of the Public Debt Management Agency (PDMA) said yesterday. PDMA said last week it planned to reopen a 10-year bond and three-year and five-year notes next quarter as well as issue new 13-week, 26-week and 52-week T-bills, but gave no indication how much it planned to auction. “The total amount is around 7.5 billion euros, with 5.5 billion euros for issuance that we have already announced,” Christophoros Sardelis told Reuters. “The remaining 2 billion will come from issues in other currencies.” Greece aims to raise a total of around 30 billion euros this year and it already borrowed around half of that amount in the issue-heavy first quarter. Greece is rated “A1” by Moody’s Investors Service, “A+” by Standard & Poor’s and “A+” by Fitch Ratings.

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