The auction is being held in a positive atmosphere, following the upgrade of the prospects of the Greek economy by Scope
In the markets comes out today Greek State with the 5-year bond auction.
As the Public Debt Management Organization announced yesterday, today, Wednesday, July 17, 2024, a Auction for the reissuance of Greek Government Bonds, fixed interest rate 3.875%expiring March 12, 2029, in intangible form.
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, July 24, 2024 (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 17 of July 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).
The auction is being held in a positive atmosphere, following the upgrade of the prospects of the Greek economy by Scope, with the prices of most securities increasing and their yields moving downwards. The high trading volume in the secondary market is also indicative.
In particular, the Electronic Transaction System (EDAT) of the Bank of Greece recorded transactions of 290 million euros, of which 165 million euros related to purchase orders.
The yield of the Greek 10-year bond stood at 3.39% versus 2.43% of the corresponding German bond, resulting in a spread of 0.96%.
Source: Skai
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