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Economy

Strong Demand for Greek 7-Year Bond Reissue

ATHENS – A book-building process for the reissue of a 7-year bond attracted strong interest on Wednesday, with bids exceeding 5.8 billion euros with only half an hour remaining for the completion of the process, sources said.

The same sources noted that increased interest contributed in revising down the guidance for the interest rate to mid swap +110 bps from mid swap +115 bps at the opening of the book-building process. Meanwhile, a six-month Treasury bill auction was successfully completed. The Greek state raised 812.5 million euros from the auction at an interest rate of -0.14% (-0.20% in the previous auction).

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NICOSIA - With Turkey already hunting for energy in parts of Cyprus’ offshore Exclusive Economic Zone (EEZ) it doesn’t recognize, the Greek-Cypriot government said Turkey didn’t have the right to allow a university research boat to conduct research in those waters.

ATHENS - A move by the ruling New Democracy government to allow private colleges in Greece has drawn interest from 10 top international schools, Education Minister Kyriakos Pierrarakakis said ahead of a vote in Parliament.

ATHENS - While there’s been an easing of tensions between the countries, Turkey said that Greece’s positioning of troops on some Aegean islands near Turkey’s coast violates peace treaties and said their sovereignty could be challenged.

ATHENS - Unsatisfied with American terms to limit how new F-16 fighter jets sold to Turkey could be used, Greece’s major opposition SYRIZA said the New Democracy government should give lawmakers more details on safeguards.