Greece raised three billion euros on Wednesday with a new 30-year Government Bond (GGB) amid high demand in the wake of repeated upgrades by international ratings agencies.

According to an announcement by the Public Debt Management Agency (PDMA), the issue was oversubscribed 11 times (33 billion euros in total offers).

The coupon’s interest rate eased to 4.125%. The re-offer yield reached 4.241%.

In a later statement, Greek Economy & Finance Minister Kostis Hatzidakis said the “…the issuance of a 30-year bond… is an important success for the country and another vote of confidence by investors in the prospects of the Greek economy. Amid a period of international geopolitical uncertainty, the Greek issue was oversubscribed 11 times, as bids exceeded 33 billion euros, while the interest rate was set at a level that confirms the investment grade and compares to corresponding interest rates by others countries of the eurozone.”

The lead managers for the issue were BNP Paribas, BofA Securities, Deutsche Bank, Goldman Sachs Bank Europe SE, J.P. Morgan and Piraeus Bank.