Greece successfully raised 200 million euros from market


Greece on Monday successfully auctioned the reopening of a 10-year bond issue raising 200 million euros from the market.

The re-issue attracted bids totaling 1.026 billion euros and the return of the bond was set at 4.44%, up from 3.67% in the previous auction in July.

The 10-year benchmark bond is currently trading in the secondary market at a spread of 2.5% against the 10-year German Bund.

The coupon of the bond issue which was launched in January 2022 was 1.75%.

Greece's Public Debt Management Agency made the announcement last Friday that it intended to proceed with an extraordinary auction for the reopening of a 10-year Greek Government Bond with a fixed interest rate of 1.75 % maturing on June 18, 2032, in book entry form.

According to the announcement, "this operation comes to provide additional liquidity on this maturity point of the GGB curve" and the amount to be auctioned is up to 200 million euros, while the settlement date is November 21, 2022 (T+5).

The yield of the specific bond on the secondary market is currently at around 4.7%.

According to the announcement, only Primary Dealers (PDs) were allowed to participate with up to five competitive bids each, which had to be placed through the Electronic Trading System (H.D.A.T.) by 12:00 noon (local time) on Monday, November 14.