Greece draws 3 bln euros from 30-year bond amid huge demand

Greece drew 3 billion euros from the issue of a new 30-year bond on Wednesday, securing considerable demand for the issue that came on the back of the unexpected upgrading of the country's credit outlook to "Positive" by Standard & Poor's last Friday.

The Public Debt Management Agency (PDMA) announced on Wednesday that the issue received offers in excess of €33 billion, leading to a reduction of the interest by 15 points from the original guidance.

The interest rate on the coupon issue ended up much lower than originally predicted, at roughly 4.15% instead of 4.30%. Therefore Greece borrowed the maximum amount it had scheduled for the issue.

Running the book for the new syndicated issue were BNP Paribas, Bank of America Corp., Deutsche Bank, Goldman Sachs Group, JPMorgan Chase & Co and Piraeus Bank.

National Economy and Finance Minister Kostis Hatzidakis...