The Greek state on Wednesday proceeded with a re-opening of a 3.875% government bond issue – with the latter debt due to mature in March 2029.
Keen investors’ interest in the GGB auction generated total bids of 906 million euros, with the amount finally accepted by the Public Debt Management Agency (PDMA) being the 250 million euros initially sought by the Greek state, i.e. an oversubscription by 3.62 times.
The uniform yield reached 2.81%, while the cut-off price was 104.570. The cut-off ratio was 52%.
The announced settlement date is July 24, 2024.
The auction comes in the wake of Greece’s return to an investment grade rating late last year, as assessed by international ratings agencies.
