Bond

Greece to reopen three- and five-year bonds

Greece plans to reopen its recent three- and five-year bond issues in the next two weeks, to top them up by as much as 1.5 billion euros, accepting treasury bills as payment instead of cash, a senior government source told Reuters on Monday.

The debt exchange is aimed at improving the functioning of the secondary bond market, boosting liquidity and tightening spreads.

Reuters: Risk Rises KTB Bondholders Will Seek Legal Action

The risk holders of Corpbank’s dollar-denominated bond will pursue legal action against the troubled Bulgarian lender and the state has increased, Reuters has reported.

According to unnamed bondholder sources quoted by Reuters, Corporate Commercial Bank, or KTB, failed to make the final payment on the bond that matured last Friday.

KTB’s Fate to Become Known in October, Plevneliev Tells Reuters

Bulgaria will decide the fate of troubled Corporate Commercial Bank (KTB) only after the results of an audit become known in October, the country’s President has told Reuters.

Rosen Plevneliev said that for the moment “no politician and no government can do anything but just wait to see the numbers."

Greek bond yields dip as investors anticipate ratings upgrade

Greek bond yields slipped on Friday, slightly outperforming other lower-rated euro zone bonds as investors anticipated a credit ratings upgrade from Moody's later in the day.

Moody's has an extremely speculative Caa3 rating on Greece, the worst in the euro zone. It is scheduled to review the rating on Friday. Any announcement will come after the market closes.

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