A Greek government decision to open a book-building process for a new seven-year bond loan was met with strong demand by long-term institutional investors, only a few hours after the launch of the procedure.
According to sources, bids submitted exceeded 12.5 billion euros from 2.5 billion sought by the Greek state. The strong demand pushed the yield of the new bond to 1.9 pct from 2.1 pct at the opening of the book-building process.