7/16, 2:50 PM (Source: TeleTrader)
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Greece raises €2.5B with seven-year yield at 1.9%

The Public Debt Management Agency in Athens closed books on Tuesday in the auction of bonds maturing in July 2026 with demand topping €13 billion compared to the presale sum of more than €10.5 billion, unnamed participants told the media. The yield for €2.5 billion in debt raised by Greece came in at 1.9% while guidance was said to have been 2%.

At the same time, the 10-year rate for the €2.5 billion from the operation conducted in March was at 2.2% or 1.7 percentage points lower than at the sale. Today's coupon was set at 1.875% and lead managers took €380 million in the package, the Wall Street Journal reported.

Of note, Moody's Investors Service today improved the long-term deposit rating on Alpha Bank AE, Eurobank Ergasias SA and National Bank of Greece SA to positive from stable and said it expects asset quality to increase and that the lenders are seen lowering the share of nonperforming loans amid improved economic growth. The rating is ​Caa1.

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