ATHENS, Jan.28 (Xinhua) -- Greece announced on Monday it will shortly issue a five-year bond maturing in April 2024, in the first foray of the country to the money markets since the issue of a seven-year paper in February 2018.
The issue will take place "in the near future subject to market conditions," according to a statement at the Athens Stock Exchange.
The government also announced it has commissioned the services of Bank of America, Merrill Lynch, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley and Societe Generale SA as joint lead managers for the issue of the bond.
The announcement came as the yield of Greece's benchmark 10-year government bond eased to a four-month low of 4.07 percent in the secondary market on Monday morning. The yield of the five-year bond stood at 3.05 percent.
Greece emerged from its third bailout program last August but had refrained from issuing a new bond since then, given also the cash buffer it has built in order to be able to pay its dues to creditors which need to tap the money markets.
On Monday Alternate Finance Minister Giorgos Houliarakis issued a decision forcing all general government entities to hand their cash reserves to the Bank of Greece by February 25.
Any state entities who refuse to comply with this decision, that is set to increase the cash buffer further, are reportedly facing a reduction or suspension of their state funding and possibly a change to their administration.
