Greece opens book for 10-year bond, offers exceed 33 billion euros

Greece started the sale of a new 10-year bond on Tuesday, its first issue of debt in 2025, with demand exceeded 33 billion euros, approximately one hour after the bid book opened, according to the Public Debt Management Agency (PDMA).

Based on the initial guidance, the coupon of the issue is set at 107 basis points above the Mid-Swap (2.58%), i.e. around 3.65%.

The PDMA has instructed BofA, Deutsche Bank, Goldman Sachs, Morgan Stanley, National Bank, and Societe Generale to run the issue.

Greece’s financing programme for 2025 foresees lower borrowing than in 2024, of about 8.0 billion euros. Approximately 6 billion euros are expected to be raised from new bond issues and the remainder, approximately 2 billion euros, from reissues of existing bonds.

A significant part of the amount that Greece will borrow is expected to be directed towards new early debt repayments of 5 billion euros in 2025.

Source: pagenews.gr