The Greek National Debt Isn’t Trash After All

New Greek National Debt at 10 years has been finally pulled into the market, the emission was a proof to set the reliability of the markets on Greek National Debt. The good new is than in just two hours the demands reached € 15.500 million, the triple of the amount expected.

During all this year, Greece has only made a bond emission. It was in mid January, just before the fears of the market on the Greek National Debt and the high fiscal deficit of Greece , the the country pulled €8000 million at 5 years.

The objective, is spread €5000 million in bonds at 10 years. The analysts expected that the price could be around 310 basic points over midswap, the reference index of that kind of emissions.

The first figures from the demand, have allowed to reduce the expectations about the final price of new Greek National Debt emitted, to 300 basic points over midswap. According sources from the Greek government, the emission of Greek National Debt was closed in just two hours, when reaching €15.500 million,three times more than the amount expected. The interest rate of these bonds could be around 6,4% according Reuters.

This amount of demand, softened the peak reached by the interest rate of Greek National Debt.

The Greek National Debt needs to be refinanced between April and May by a value near €20.000 million, and by €53.000 million during the whole year.

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3. The interest rate of Greek debt reached 8.28%
4. The domino of the Greek debt is jeopardizing all Europe
5. The President of Fitch Considers that the National Debt Issue in Spain,Greece and Portugal is “Annoying”