Greek Bonds

According to the Public Debt Management Agency (PDMA), the reissue aims to meet investor demand

The total amount offered was 946 million euros, with the coverage ratio at 1.89

The purpose of the reissuance of these Greek government bonds is to meet investor demand while also facilitating the functioning of the secondary bond market.

However, more recently, Greece appears to be temporarily decoupling from the typical peripheral exposure to this risk factor, BofA notes.

Total amount offered reaches 985mln€, which was covered 1.97 times

Roughly five billion euros was invested in state shares, bonds between 4Q 2022 and 3Q 2023 as a result of recent Greek economy credit rating hikes

The Greek state aims to raise 500 million euros, according to the Public Debt Management Agency (PDMA)

The uniform yield reached 2.81%, while the cut-off price was 104.570

Bond of 3.875% is set to mature on March 12, 2029

Bond carries a fixed rate of 3.375%, and with maturity date of June 15, 2034.

JP Morgan's economic forecasts for Greece remain steady, projecting growth of 2.2% for the year alongside inflation at 2.8%.

Very high demand pushed down the coupon's interest rate to 4.125%

The uniform yield eased to 3.75%, compared to 3.83% recorded during a similar T-bill auction on Jan. 31, 2024

Greek state raises 812.5 mln euros

The move is expected to yield significant savings for the Public, with an estimated 850 million euros saved over the course of the decade, solely from the interest payments on the bonds issued last month

Berenberg, the oldest German bank, identifies Greece and Portugal as key players in the eurozone's narrative this year, alongside Spain to a lesser extent

Bloomberg noted this was the highest amount ever recorded, as investors rushed to take advantage of high yields before the European Central Bank (ECB) cut interest rates.

The bidding book has closed with offers surpassing 35 billion euros

It should be recalled that the American investment bank had initially recommended a long position in Greek 10-year bonds in December (18/12).