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Monday, January 30, 2023
HomeEconomyStrong demand for the 10-year bond: Offers exceed 17 billion euros

Strong demand for the 10-year bond: Offers exceed 17 billion euros

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The interest rate is currently set at 4.45%

Strong interest is being expressed in the issuance of the new 10-year bond, with the offers to exceed 17.5 billion. euros, while the initial interest rate of 4.5% is reduced to 4.45%.

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According to Public Debt Management Organization Greece will have to look this year for its financing needs to 15.4 billion euros, which include the financing of the maturing bonds of about 7.2 billion euros, and 4.5 billion euros to pay interest on service of the Public Debt. Also, the Ministry of Finance plans to reduce the stock of Interest Bonds circulating in the market by approximately 1 billion euros.

Of this, 7 billion euros will be covered by the issuance of new bonds, while 4.2 billion euros will be covered by other sources such as the EIB, the RRF, etc. The Ministry of Finance also expects to collect 2 billion euros from the privatization program. In addition, the government is considering the issuance of the first green bond to support the implementation of the sustainability agenda and strengthen the financing strategy of the SDG.

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It is noted that the borrowing needs for this year are limited thanks to the primary surplus of 1.7 billion euros that the State Budget is expected to show.

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