For­eign i nvestors eye € 3.5 bln in cor­po­rate bonds

Financial Mirror (Cyprus) - - FRONT PAGE -

For­eign in­vestors have set their sights on the lat­est se­ries of cor­po­rate bonds, with the prices cur­rently ne­go­ti­ated ex­ceed­ing ini­tial es­ti­mates, due mainly to the re­cent five-year trea­sury bill is­sue that was well re­ceived.

With Greece ex­pected to is­sue new sov­er­eign bonds in the near fu­ture, for­eign in­vestors have bought state and cor­po­rate bonds worth 5.1 bln eu­ros since the start of 2013, with about 2.5 bln be­ing in­vested in cor­po­rate bonds in the past few months. With more Greek com­pa­nies plan­ning to is­sue bonds, this is ex­pected to in­crease to 3.5 bln eu­ros.

Greek businesses have been is­su­ing cor­po­rate bonds in the Global Ex­change Mar­ket in Ire­land or the Euro MTF mar­ket in Lux­em­burg.

The ten com­pa­nies cur­rently ne­go­ti­at­ing in the Lux­em­burg mar­ket in­cludes OTE, Ti­tan, Pi­raeus Bank, Al­pha Bank, Na­tional Bank, Eurobank, In­tralot, ELPE, Fri­go­glass and Mo­tor Oil.

These com­pa­nies are also con­sid­er­ing the pos­si­bil­ity of draw­ing up to 5 mln eu­ros from the Athens Stock Ex­change, af­ter the new cor­po­rate bond mar­ket was launched in the Al­ter­na­tive Mar­ket (ENA).

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