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| Best borrowers resultsMethodology |
In April, Greece attracted €20 billion of orders for a €3 billion five-year issue offering 4.95%. Such an outcome would have been unthinkable a year ago and is only the most extreme example of the near-perfect funding conditions now enjoyed by many peripheral sovereign borrowers that were locked out of the market until recently. It is also an indication of the pent-up demand for sovereign paper offering yield when such sovereigns as Spain and Italy are now offering a fraction of what they were two years ago.
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