Greek Bond Sale Exceeded All Expectations

Nearly 50% of the 3 billion euros of 5-year bonds administered yesterday, went to British investors, while 7% were bought by Greek investors. Approximately an additional third of the bonds were acquired by European investors. A third of the bonds were purchased by hedge funds. Asset managers claimed 49% of the investor base.

Greek Prime Minister Antonis Samaras stated of the sale, "...exceeded all expectations". The nation's goal was a generated 2.5 billion euros but it earned over 20 billion euros, in requests.

London-based Goldman Sachs Group Analyst Themistoklis Fiotakis claimed today, "It's becoming increasingly clear that the probability of default for Greek foreign-law government bonds is low and declining...The Greek government has regained credibility by showing willingness to adopt reforms, which, although unpopular, have helped the country's recovery prospects".