Greece will issue a global U.S. dollar denominated bond in late April or early May, the head of the country's debt agency (PDMA) said on Wednesday.
Greece, with total borrowing needs of 53.2 billion euros ($71.43 billion) this year, faces a refunding hump in April and May as it rolls over maturing bonds, T-bills and pay coupons coming due.
Rated A2 by Moody's and BBB plus by Fitch and Standard & Poor's, the overborrowed country has about 23 billion euros of debt maturing between now and the end of May.
"There will be a roadshow, we are planning to issue a USD bond by end April or early May," PDMA Chief Petros Christodoulou told Reuters.
He did not provide details on the amount to be raised.
So far this year Greece has raised about 23 billion euros via T-bills, a private placement and syndicated bond issues.
Confidence in Greece as a borrower has been shaken by the global crisis' impact on growth and its budget, with the premium investors demand to hold Greek government paper instead of German benchmark bunds rising to 350 basis points on Wednesday.
Faced with high borrowing costs, the government has said it would seek to broaden the investor base for its bonds and tap global markets.
"The roadshow will take place after April 20," Christodoulou said.
© 2017 Thomson/Reuters. All rights reserved.