At the end of January, Greece inked its longest trade since 2009, a €2.5 billion 15-year syndicated deal led by Bank of America, Barclays, BNP Paribas, Goldman Sachs, HSBC and JPMorgan.
The deal is the sovereign’s largest since 2014, and attracted an order book of €18.8 billion while offering a yield of less than 2%.
This remarkable reception, thanks in no small part to Europe’s anaemic interest rate environment, is also further evidence of Greece’s capital market rehabilitation – last October the sovereign even issued short-term debt at a negative yield.
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