Arrivano a pagare il 5,5% lordo a 5 anni... e c'è caso che quotino sotto la pari....
Quantomeno l'asta non è stata disertata, anzi, c'è stato un po' di overbooking (7,5 mld euro la richiesta, 5,5 mld euro l'offerta).
la grecia deve sperare di non avere troppi salvataggi bancari o altri analoghi interventi che si renda necessario mettere in cantiere...
NB: Per i frequentatori del 3D: Monitor titoli Grecia allegato al post 923...
High yield aids Greek bond issue,spells costly '09[LIST][*]
Reuters, Wednesday January 21 2009[/LIST]By Lefteris Papadimas
ATHENS, Jan 21 (Reuters) - Greece placed 5.5 billion euros in a benchmark 5-year euro bond on Wednesday as a high yield drew demand from investors but suggested Greece may find it expensive to meet its rising borrowing requirements this year.
The bond, maturing in August 2014 with a 5.5 percent coupon, was priced at the equivalent of 325.10 basis points over the equivalent 5-year German benchmark bond, maturing July 2014.
"It's very generously priced and that helped," said Sean Maloney, analyst at Nomura in London.
The head of Greece's Public Debt Management Agency (PDMA) said it had received 7.5 billion euros in bids. Just over half of the issue was bought by Greek investors, he said.
"The issue went very well given the circumstances in the markets and the fuss surrounding the downgrade from S&P," PDMA chief Spyros Papanicolaou told Reuters.
Standard & Poor's downgraded Greece's credit rating by one notch last week to A-/A-2 -- the lowest in the euro zone -- on concerns at its rising budget deficit and flagging economic competitiveness.
The European Commission on Monday forecast Greece's 2009 economic growth at just 0.2 percent -- well below a government prediction of 2.7 percent -- and said the deficit would climb to 3.7 percent this year and 4.2 percent in 2010.
Greece already has a debt burden equivalent to 94 percent of its GDP and concern over public finances during the global credit crunch has pushed up the yield of Greek debt.
The spread of 10-year Greek bonds over benchmark German Bunds hit a historic high for a euro zone member near 281 basis points on Wednesday.
The government has said it needs to borrow 42 billion euros in 2009 to service its debt and finance public expenditure. Analysts said Greece would cover its borrowing needs -- despite a flood of other sovereign issues -- but it would prove costly.
"With the easy covering of this issue, one can see Greece will probably meet its borrowing needs for 2009 but at a much higher cost," said one trader at a major Greek bank, who asked not to be identified.
(Additional reporting by Ian Chua in London; writing by Daniel Flynn; editing by Stephen Nisbet)
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