The Greek government is planning a new bond issue, appointing six international banks to manage the reissue of the existing 10-year government bond maturing in June 2036.
According to a related announcement, the Greek government has appointed Alpha Bank, Barclays, Citi, Commerzbank, Nomura, and Societe Generale the role of joint lead managers for the upcoming increase in the existing 10-year benchmark bond, maturing on June 16, 2036.
The transaction involves a reissue of the security rather than a new bond, with the aim of further enhancing the marketability and size of this particular series.
The issuance will be targeted at international investors and will be conducted through a book-building process, with the launch expected in the near future, depending on prevailing market conditions.
Greece currently holds investment-grade ratings from all major rating agencies, with Baa3 from Moody’s and BBB from S&P, Fitch, and DBRS.