Today, Wednesday, September 18, 2024, in accordance with the ODDIX, an Auction will be held for the reissue of Greek Government Bonds, with a fixed interest rate of 3.375%, maturing on June 15, 2034, in intangible form, ISIN GR0124040743, .
The purpose of the reissuance is to satisfy investment demand and at the same time to facilitate the functioning of the secondary bond market.
The amount to be auctioned will be up to 250 million euros and the settlement date will be Wednesday, September 25, 2024 (T+5).
The auction will be open only to Primary Dealers (ND) by submitting, through HDAT, only up to 5 competitive bids each, which must be submitted by 12:00 noon (pm), local time, on the 18th September 2024 and which are satisfied up to the amount of the auctioned amount, at the price of the last bid accepted at the auction (cut off price).
Only competitive bids will be accepted at the auction. The auction in question will be taken into account for the evaluation of the B.D. No commission will be given for the Bonds.
The 2025 plan
Greece plans to raise 8 to 10 billion euros from debt markets in 2025 through new short-term and long-term bond issues to continue early repayment of bailout loans. This is what two government sources told Reuters today, regarding the planning of the Public Debt Management Authority (PDMA) for the new year.
Greece, which regained investment grade status last year, has significantly improved its fiscal performance and its borrowing costs have fallen sharply as it has recovered from the 2009-2018 financial meltdown that almost took it a step outside the eurozone.
“We plan to raise 8-10 billion euros from the bond markets next year,” one of the officials told Reuters, about the same levels as this year’s issues. It is recalled here that Greece has raised around €9 billion from new bond issues and bond reissues so far this year.
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