Greece Plans 7-Year Bond Sale as Portugal Raises $4.6 Billion
This article is for subscribers only.
Greece is planning a sale of seven-year notes, a further sign of thawing in euro-area debt markets, after Portugal tapped investors for 15-year securities and Spain created 50-year bonds for the first time.
With investors flocking to euro-area bonds amid speculation the European Central Bank will expand stimulus measures as soon as tomorrow, government borrowing costs are at record lows and nations are extending maturities to lock in those rates. Greece will sell the new securities by year-end, an official told reporters in Paris. Portugal raised 3.5 billion euros ($4.6 billion) of new 15-year bonds via banks today, according to the nation’s debt agency, following a Spanish sale 50-year bonds on Sept. 1.