German Bank's issue in drachmas dominates quiet Eurobond trading
Article Abstract:
Duetsche Pfandbriefe & Hypotekenbank's (Defta) issue of drachma-dominated bond controlled the rather slack Eurobond trading on May 22, 1998. Defta rolled-out 10 billion Greek drachmas or four-year Eurobonds valued at $33 million that pay 80 basis points under the three-month athimid, the standard Greek interbank lending rate. According to Morgan Stanley International, the German bank's bonds had to be introduced at a relatively unfavorable time due to the queuing system of Bank of Greece. Around 80% of Defta's issue of drachma-dominated bonds, which are the first floating-rate notes in the Greek currency for 1998, went to Italian investors.
Comment:
Issue of drachma-dominated bond dominates the rather slack Eurobond trading on May 22, 1998
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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World Bank offers Africa AIDS help
Article Abstract:
The World Bank has launched a campaign promising almost unlimited financial assistance and quick action to defeat the AIDS virus. The emergency credit line begins at $500 million and will be virtually unlimited.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2000
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