Greece witnessed record demand for its first new bond on Tuesday after regaining investment grade.
According to Ekathimerini, Greece raised 4 billion euros from the 10-year bond, and investor orders exceeded 35 billion euros.
“The successful completion of a 10-year syndicated bond issue is a success of all Greeks and a reward of the government’s economic policy,” Economy and Finance Minister Costis Hatzidakis said on Tuesday.
“All these certify the steadily growing Greek economy. Restoring confidence, regaining the investment grade and a prudent fiscal policy ensured lower borrowing costs and benefits to Greek taxpayers.”
Greece accounts for nearly 40% of the 10-billion-euro borrowing program outlined by the Public Debt Management Agency for 2024.
The country’s economy is expected to grow by 2.9% this year after 2.4% last year, outperforming its euro zone peers.