Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

UPDATE 1-No change to Greek U.S. roadshow plans-govt source

Published 04/15/2010, 07:24 AM
Updated 04/15/2010, 07:44 AM

* No change to Greek U.S. roadshow plans

* No target set for dollar bond issuance

(Adds background)

ATHENS, April 15 (Reuters) - Greece has not changed its plan to hold a U.S. roadshow for a dollar bond, a senior government official told Reuters on Thursday, denying earlier press reports.

"There is absolutely no change to our plans regarding the U.S. roadshow," the official, who requested anonymity, told Reuters.

Dow Jones Newswires had reported Greece might cancel the roadshow but later corrected to say it might drop plans to issue a dollar bond if there was not enough interest from U.S. investors. The agency also said Athens had lowered expectations for the amount the bond might raise.

Greece said earlier this year that it would issue dollar- and yen-denominated bonds, and promote them through U.S. and Asia roadshows, to widen its investor base as it seeks to raise 53 billion euros this year.

Greek officials have not revealed how much they would aim to raise in non-euro bonds but press reports have said 3-5 billion euros worth of dollar bonds might be targeted.

A ministry official told Reuters earlier this week that no specific target will be set for the U.S. roadshow and there was no decision yet on how much of this year's planned issuance will be denominated in non-euro currencies.

"It's a no-deal road show. We don't go there to issue a bond while we are there," the official, who requested anonymity, said on Monday.

The premium investors demand to buy Greek government bonds in preference to German Bunds rose on Thursday to levels last seen last week, before the European Union agreed a rescue package for Athens.

A lack of clarity over how the package would be implemented has irritated market participants, prompting them to push spreads and credit default swaps wider. [ID:nLDE63E0W5]

(Reporting by Dina Kyriakidou; Writing by Ingrid Melander; editing by John Stonestreet)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.