LONDON, April 9 (IFR) - Greece has set initial price
thoughts on a new five-year euro benchmark at 5% to 5.25% yield,
according to a lead manager.
Indications of investor interest are in excess of EUR11bn
according to a source, and official guidance will be announced
at the London open on Thursday. The EUR11bn shadow book includes
EUR1.3bn of joint-lead manager interest.
The US order book will close at the end of today although US
accounts will be able to amend orders after guidance is
announced in the morning.
The sovereign has hired Bank of America Merrill Lynch,
Deutsche Bank, Goldman Sachs International, HSBC, JP Morgan and
Morgan Stanley to arrange the transaction.
Greece is rated nine notches below investment grade at Caa3
by Moody's. Standard and Poor's and Fitch rank Greece six
notches below investment grade at B-.
(Reporting by Helene Durand; Editing by Sudip Roy)