Greece saw strong demand for its bond deal on Thursday, reports FT.
Athens will borrow €5bn in 10-year bonds.
Although order books rose to about €14bn, making the offer nearly two times subscribed, the Greeks still have to pay very high interest rates.
The coupon interest rate, acccording to FT, is likely to be 6.4 per cent, much higher than existing Greek 10-year bonds and about 2 percentage points more than Portugal, the second weakest eurozone country, and twice that of Germany.
Most of the demand from the bond came from commercial banks, pension funds and life insurance companies, according to bankers. These were the front buyers, who knows who was really buying through commercial banks is not clear. Paging Ron Paul.
Greece needs to find another €20bn of funding over the next three months.
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