Greece aims to raise 5-7 billion euros from the bond market in 2019, according to PDMA. The debt agency announced Greece's borrowing strategy.
The agency’s 2019 financing plan contains three scenarios: The first scenario provides for drawing €3bn from the markets, along with the use of €5bn from the cash buffer and zero receipts from privatizations.
The second includes raising €5bn through bond issues, the reduction of the T-bill stock by €800m, using €2.4bn of the cash reserves, and the collection of €1.4bn from state asset utilization.
The last scenario refers to the sale of €7bn bonds, decreasing the T-bill sum by €1.5bn, using €1.1bn in cash reserves and collecting €1.4bn from privatizations.
"Greece plans to issue between 5 and 7 billion euros of benchmark bonds in 2019," the debt agency said, adding that Greece's cash reserves stood at 26.5 billion euros as of September.