OTE puts Greece on map with Eu500m trade

07 Apr 2011

Telecoms firms OTE tested investor appetite for Greek risk this week when it sold the first new corporate bond from the country since 2009.

The Eu500m three year crossover transaction, rated Baa3/BB, was priced on Monday to yield 7.375%, the tight end of guidance in the 7.5% area. It picked up Eu1.8bn of orders from 195 accounts. Bankers not on the deal were encouraged that investors were differentiating between the Greek sovereign ...

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