The latest “foray” by the Greek state into the markets, expected on Tuesday, will be among the “priciest” of very recent memory, with the yield on the Hellenic Republic’s five-year bond hovering at 4.2 percent on Monday – the highest since 2017.
According to a press release by the semi-independent Public Debt Management Agency (PDMA), the Greek state aims to drain 750 million euros from an auction for the re-opening of the GGB three-month Euribor +1.23 percent per annum, with a maturity date on Dec. 15, 2027.
The amount to be auctioned is 750 million euros and settlement date is November 2, 2022 (T+5).
Estimates on Monday based on the Eurobor yield, show that Greece will borrow the next day with an interest rate in the 3-percent “territory”.
While judged as risky, given rising costs for sovereign borrowing for practically every country at the moment, the Greek state is making a bold statement in reaching out to markets, one punctuated by an adjustable rate.
The last time the Greek state floated a five-year bond was in September 2021, when the first issue was accompanied by a 30-year bond issue.
Both issues were met with high interest by investors at the time, with the former completed with an almost zero yield, a historic low – and landmark – for Greek debt.
In terms of “political considerations”, the Mitsotakis government – now less than a year before scheduled general elections – also wants to send a “message” to the markets in the last quarter of 2024, namely, that Greece is an active sovereign borrower despite the difficult global situation and despite the fact that 36-billion-euro “cushion” remains mostly intact.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Greece Defines Continental Shelf Limits and Maritime Zones in Landmark EU Document
The Maritime Spatial Planning (MSP) framework represents a comprehensive approach to spatial planning and is crucial for the successful development of a blue and circular economy
EU Praises Greece’s RRF Progress as Revised Recovery Plan Nears Completion
Athens is preparing to submit its revised “Greece 2.0” Recovery and Resilience Plan after Easter, with a slight delay from the initial timeline but with the European Commission’s approval.
Greek €200M 10Y Bond to be Issued on April 16
The 3.875% fixed-interest-rate bond matures on March 12, 2029, and will be issued in dematerialized form. According to PDMA, the goal of the re-issuance is to meet investor demand and to enhance liquidity in the secondary bond market.
German Ambassador to Greece Talks Ukraine, Rise of Far Right & Tariffs at Delphi Economic Forum X
Commenting on the political developments in his country, the German Ambassador stressed that it was clear the rapid formation of a new government was imperative, as the expectations across Europe showed.
Athens to Return Confiscated License Plates Ahead of Easter Holiday
Cases involving court orders will also be excluded from this measure.
Servicers: How More Properties Could Enter the Greek Market
Buying or renting a home is out of reach for many in Greece. Servicers propose faster processes and incentives to boost property supply and ease the housing crisis.
Greek Easter 2025: Price Hikes on Lamb, Eggs & Sweets
According to the Greek Consumers’ Institute, hosting an Easter dinner for eight now costs approximately €361.95 — an increase of €11 compared to 2024.
FM Gerapetritis Calls for Unified EU Response to Global Crises at EU Council
"Europe is navigating through unprecedented crises — wars, humanitarian disasters, climate emergencies," he stated.
Holy Week Store Hours in Greece
Retail stores across Greece are now operating on extended holiday hours for Holy Week, following their Sunday opening on April 13. The move aims to accommodate consumers ahead of Easter, but merchants remain cautious amid sluggish market activity.
Green Getaway Ideas for Easter 2025 in Greece
Celebrate Easter 2025 in Greece the sustainable way with eco-farms, car-free islands, and family-friendly getaways rooted in nature and tradition.
