The Greek government today tapped the international markets by reissuing its existing 10-year bond maturing in June 2036, as part of its public debt management strategy.
This involves an increase in the existing bond with a coupon of 3.375%, which matures on June 16, 2036, and currently has an outstanding balance of €4.55 billion. The issue will be settled on June 17, 2026.
Initial pricing guidance is set at around 71 basis points above mid-swap (MS+71 bps), while the order book opened today. This guidance implies a yield of approximately 3.8%.
The transaction is of benchmark size, with the exact amount to be determined following the completion of the book-building process and the assessment of investor demand.
The underwriters for the issue are Alpha Bank, Barclays, Citi, Commerzbank, Nomura, and Societe Generale.
Greece has investment-grade ratings from Moody’s (Baa3), S&P (BBB), Fitch (BBB), and DBRS (BBB), with stable outlooks from all rating agencies.