Greece announces auction for re-opening of GGB 3.875% bonds

Greece is set to conduct an auction on July 17 for the re-opening of the GGB 3.875% bonds maturing on March 12, 2029, in book entry form under ISIN GR0124035693.

According to the Public Debt Management Agency, this auction aims to meet investor demand while enhancing the efficiency of the secondary market.

Up to 250 million Euro will be auctioned with settlement scheduled for July 24, 2024 (T+5).

Participation in the auction is limited to Primary Dealers (PDs), who can submit up to 5 competitive bids each through the Electronic Trading System (H.D.A.T.) by 12:00 p.m. local time on July 17, 2024.

Only competitive bids up to the auctioned amount will be accepted and will be allotted at the cut-off price determined in the auction. The results of the auction will factor into the evaluation of PDs, with no commissions payable for the bonds auctioned.