The reissuance of the 10-year bond, with a 4.25% coupon maturing on June 15, 2033, was announced by the Public Debt Management Organization (ODDIX).

In essence, this is the first auction of bonds carried out in the framework of the quarterly auction program, announced a few days ago by the ODDICH with the main objective of improving the functioning of the secondary market of government securities. The move comes shortly before the review of the assessment of the creditworthiness of the Greek economy by Standard & Poor’s on Friday, April 21.

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 300 million euros and the settlement date will be Wednesday, April 26, 2023 (T+5).

Only Primary Dealers (ND) will participate in the auction by submitting, through HDAT, exclusively up to 5 competitive bids each, which must be submitted by 12:00 noon (pm), local time, on the 19th April 2023 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).

Competitive offers only will be accepted in the auction.