UPDATE 1-No change to Greek U.S. roadshow plans-govt source

* No change to Greek U.S. roadshow plans

* No target set for dollar bond issuance

(Adds background)

ATHENS, April 15 (BestGrowthStock) – Greece has not changed its plan
to hold a U.S. roadshow for a dollar bond, a senior government
official told Reuters on Thursday, denying earlier press
reports.

“There is absolutely no change to our plans regarding the
U.S. roadshow,” the official, who requested anonymity, told
Reuters.

Dow Jones Newswires had reported Greece might cancel the
roadshow but later corrected to say it might drop plans to issue
a dollar bond if there was not enough interest from U.S.
investors. The agency also said Athens had lowered expectations
for the amount the bond might raise.

Greece said earlier this year that it would issue dollar-
and yen-denominated bonds, and promote them through U.S. and
Asia roadshows, to widen its investor base as it seeks to raise
53 billion euros this year.

Greek officials have not revealed how much they would aim to
raise in non-euro bonds but press reports have said 3-5 billion
euros worth of dollar bonds might be targeted.

A ministry official told Reuters earlier this week that no
specific target will be set for the U.S. roadshow and there was
no decision yet on how much of this year’s planned issuance will
be denominated in non-euro currencies.

“It’s a no-deal road show. We don’t go there to issue a bond
while we are there,” the official, who requested anonymity, said
on Monday.

The premium investors demand to buy Greek government bonds
in preference to German Bunds rose on Thursday to levels last
seen last week, before the European Union agreed a rescue
package for Athens.

A lack of clarity over how the package would be implemented
has irritated market participants, prompting them to push
spreads and credit default swaps wider. [ID:nLDE63E0W5]

Investing Research

(Reporting by Dina Kyriakidou; Writing by Ingrid Melander;
editing by John Stonestreet)

UPDATE 1-No change to Greek U.S. roadshow plans-govt source