All the above, will enhance the country’s credibility in the eyes of international capital markets and credit rating agencies, making the investment grade within reach. Evidence on reduced sovereign risk Last week, the Hellenic Republic raised € billion issuing a 5-year government bond at a yield of 3.6% and an annual fixed coupon for investors of 3.45%.
This was Greece's first attempt to tap the international money markets after the country's exit from the third bailout programme last August. The issue was four times oversubscribed as offers, amounting to over € billion with the foreign investors’ participation exceeding 85%, with many real money investors and not only hedge funds.