According to Greek daily Kathimerini, the government is now planning a 3-year bond issue with the aim of raising 2.5 – 3 billion euros by July 10. The proceeds may be used as a cushion for debt maturities amounting to 5.6 billion euros in August.
The indicative timetable is subject to the approval of the next sub-tranche of 1 billion euros by the upcoming Eurogroup on July 7. The release of the next instalment is expected to be approved as Greece has completed the six prior actions required.
The troika delegation is scheduled to return to Athens on July 9 and Greece’s goal is for the bond transaction to take place as early as possible to avoid any negative repercussions during the inspection by Greece’s lenders affecting investor interest or the yield.
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