Greece plans first 10-year bond issue in 9 years

ATHENS, Greece (AP) — Greece says it is planning a benchmark 10-year bond issue, in its second market test since the country officially exited its international bailouts in August.

The Public Debt Management Agency said Monday that the issue would be launched “in the near future” subject to market conditions. In January, Greece raised 2.5 billion euros with a five-year bond.

The decision follows Friday’s two-notch upgrade of Greece’s credit rating by Moody’s ratings agency, from B3 to B1. Although that is still well below investment grade the upgrade offers a considerable boost to market confidence.

Greece last issued a 10-year bond in 2010, shortly before the country’s first bailout.

By Associated Press