Greece’s government is set to tap the markets today with the reopening of its 15-year and 30-year bonds, according to an announcement from the Public Debt Management Agency (PDMA).
Specifically, the PDMA has mandated Barclays, BNP Paribas, Commerzbank, Eurobank, JP Morgan, and Piraeus Bank to proceed with the reopening of existing bonds maturing on July 18, 2038, with a 4.375% coupon, and those maturing on June 15, 2053, with a 4.125% coupon.
The transaction will take place in the near future, depending on market conditions, the announcement noted. Pricing of the new bonds is expected to be finalized today, March 13, with settlement anticipated on March 20.
Additionally, the Greek government is offering a buyback of bonds worth 4.5 billion euros maturing in February 2026 at a price of 98.17, as well as bonds worth 2.5 billion euros maturing in July 2026 at a price of 99.77.
So far, the Public Debt Agency has raised approximately 4 billion euros—50% of the total amount it aims to secure for 2025. According to PDMA sources, this funding strategy is not expected to change, as there is no need for Greece to seek additional amounts this year.
“First and foremost, increasing the target would send a signal that we require more funds, which is not the case,” officials emphasized.
They also noted that initial estimates last year projected Greece’s cash reserves for 2025 at around 32 billion euros. However, the country currently holds nearly 41 billion euros in cash reserves, a significant improvement in fiscal conditions. This strong liquidity position means there is no necessity to raise additional funds at this time.
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