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On October 25, 2022, the Hellenic Republic (HR) will proceed with an auction for the re-opening of the GGB 3month Euribor +1.23% per annum, with maturity December 15, 2027, in book entry form, ISIN GR0514024216, according to the Public Debt Management Agency (PDMA)
The amount to be auctioned is 750 million euros and settlement date is November 2, 2022 (T+5).
Only Primary Dealers (PDs) are allowed to participate with up to 5 competitive bids each, placed through the Electronic Trading System (H.D.A.T.) until 12:00 p.m. (noon) local time on Tuesday, October 25. Competitive bids will be accepted up to the auctioned amount and will be allotted at the last bid accepted in the auction (cut-off price).
During the auction non – competitive bids can be submitted up to 30% of the auction amount. On top of that, Primary Dealers can submit non-competitive bids up to another 30% of the auctioned amount, until October 26, 2022 (12:00 p.m. local time).
The day count convention is ACT/360.
No commission will be paid for the Bonds auctioned.
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