The Public Debt Management Organization announced yesterday Tuesday the reissuance of a bond with a 4.25% coupon maturing on June 15, 2033.

In essence, this is the first bond auction to be carried out within the quarterly auction program, announced a few days ago by the Public Debt Management Organization with the main objective of improving the functioning of the secondary government securities market.

The move comes shortly before Standard & Poor’s reviews the creditworthiness of the Greek economy 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 offers each, which must be submitted by 12:00 noon (pm), local time, today April 19, 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).

Only competitive bids will be accepted at the auction.