GREECE
Macro/Political:
- Scope Ratings, in research on euro area sovereign credit-rating convergence amid rising public debt levels across several highly rated sovereigns, stated that Greece is expected to record a decline of 76 percentage points in its debt-to-GDP ratio compared with pre-pandemic levels in 2019. According to the agency, the country’s debt-to-GDP ratio will fall to 107% by 2031, placing it below Italy, France and Belgium, and very close to Finland.
Source: Scope Ratings
- According to Euro2day, the Greek government has made attracting foreign investment and highly skilled financial sector professionals a top priority as it seeks to position the country as a regional hub for investment fund management. More specifically, the government aims to attract hedge funds, private equity firms, and alternative investment funds (AIFs), while fostering a broader ecosystem of financial and professional services. To support this objective, it has submitted legislation to Parliament designed to enhance the tax and regulatory framework governing international alternative investment fund managers and specialized financial sector professionals.
Source: Euro2day
Markets:
- Athens International Airport successfully raised EUR 500 million through the issuance of 7-year senior unsecured bonds. The bonds carry a 3.75% coupon and were priced at 99.469% of par (MS+98 bps), resulting in a yield of approximately 3.84%. Demand was very strong, with the final order book closing above EUR 2.6 billion.
Source: Athens Euronext
