ATHENS – Greece says it plans to issue a 15-year bond, tapping international markets for financing after the country's sovereign credit rating was upgraded.
The Public Debt Management Agency, in a statement on Monday named five banks that would be involved in the auction, which is expected as soon as Tuesday.
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Late Friday, Fitch ratings agency raised Greece’s credit rating by one notch to BB with a positive outlook, citing improved debt sustainability and a "stable political backdrop."
Greece ended its third successive international bailout program in 2018 and is seeking a full return to markets, as well as to exploit historically low interest rates to try and improve its long-term debt profile.
The national debt is expected to gradually decline relative to gross domestic product after peaking at a little over 180% of GDP in 2018.
The yield on Greece's 10-year bond fell below 2% last August and is currently around 1.16%.