Hellenic Republic sold on syndication as tap draws Eu10.7bn book
Orders of Eu10.7bn for a five year tap for the Hellenic Republic this week suggested that syndication rather than the traditional auction route is the most efficient approach for peripheral governments to take when increasing bonds.
With solid oversubscription at the tight end of the initial price guidance, Greece was able to raise Eu7bn, which is fungible with the original Eu5.5bn deal launched in January.
Rarely has a new issue attracted a book of that size this year, let alone a tap. Greece now intends
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