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Greece launches new bond as recovery gathers speed

Greece launches new bond as recovery gathers speed

ATHENS: Greece has completed the benchmark sale of a seven-year bond, sending markets the strongest signal yet that the country may have turned a corner after years of fiscal retrenchment and international bailouts.

Despite a 48-hour delay blamed on international market turbulence, finance ministry officials said the bond launch had managed to raise €3 billion at a yield of 3.5 per cent. Greece last tapped the international markets in July, after a three-year hiatus, raising €3 billion with a five-year issue.