February 5, 2018 / 1:43 PM / in 20 days

Greece to launch 7-year bond "in the near future" - bourse filing

ATHENS, Feb 5 (Reuters) - Greece is planning the sale of a seven-year bond ‘in the near future’, authorities said in a regulatory filing to the country’s stock exchange on Monday.

The move is a step towards the country building a cash buffer of up to 19 billion euros to cover debt repayments after it exits its current international bailout which ends in August.

The debt-laden nation, which has relied on rescue loans since 2010, seeks to return to normal market financing after the end of its bailout.

The sovereign has mandated Barclays, BNP Paribas, Citigroup, JP Morgan and Nomura for the transaction.

Greece is rated Caa2 by Moody‘s, B by Standard & Poor’s and B- by Fitch. (Reporting By Michele Kambas)

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