Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
ATHENS, Greece (AP) — Greece has launched an auction for a 15-year bond, aimed at taking advantage of low interest rates and a recent sovereign credit rating upgrade.
The Public Debt Management Agency is reportedly hoping to raise up to 2.5 billion euros ($2.75 billion) in the auction that will be concluded later Tuesday.
Greece has successfully tapped the bond market after ending its last international bailout program in 2018 and creditors have granted the country a major package of repayment relief measures valid through 2032.
Tuesday's auction is the country's first effort to borrow money on the market that goes beyond that date.
Fitch ratings on Friday agency raised Greece’s credit rating by one notch to BB with a positive outlook.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.