, Columnists
Risky Greek Debt Is Suddenly Sexy Again
Piraeus Bank’s issue of CCC-rated subordinated debt shows just how much risk appetite is out there. Investors are either brave or foolhardy.
Ultra-junk bonds are all the rage.
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Who knew there was investor appetite for subordinated Greek bank debt?
Because of the relentless hunt for returns in yield-starved Europe, Piraeus Bank SA, one of Greece’s big four lenders, has been able to brave the European capital markets for the first time since the financial crisis.