Greece Plans Five-year Bond To Help Pay For Pandemic Aid

Athens, May 5 (UrduPoint / Pakistan Point News - 5th May, 2021 ) :Greece plans to issue a five-year bond in its third debt sale this year as it seeks to bolster its public finances during the Covid-19 pandemic, the country's debt agency said.

In a statement issued on the Athens stock exchange late Monday, the Greek debt agency said that banks, Barclays, BofA Securities, Citi, Commerzbank, Morgan Stanley and Societe Generale would lead manage the new five-year, euro-denominated bond.

"The (syndicated) transaction will be launched in the near future, subject to market conditions," the statement said.

Greece has already raised 6.0 billion Euros ($7.2 billion) via 10- and 30-year bond this year, shoring up its financial reserves to help pay for the state aid made available to businesses during a six-month pandemic lockdown.

Greece expects to spend over 11.6 billion euros this year to mitigate the impact of the coronavirus on the economy, on top of 24 billion euros spent in 2020.