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GreeceBusinessGreece to auction reopening of 10-year government bond

Greece to auction reopening of 10-year government bond

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Greece intends to proceed with an extraordinary auction for the reopening of a 10-year Greek Government Bond with a fixed interest rate of 1.75 % maturing on June 18, 2032, in book entry form, the country’s Public Debt Management Agency announced on Friday.

According to an announcement, “this operation comes to provide additional liquidity on this maturity point of the GGB curve” and the amount to be auctioned is up to 200 million euros, while the settlement date is November 21, 2022 (T+5).

The yield of the specific bond on the secondary market is currently at around 4.7%.
According to the announcement, only Primary Dealers (PDs) are allowed to participate with up to five competitive bids each, which must be placed through the Electronic Trading System (H.D.A.T.) by 12:00 noon (local time) on Monday, November 14.

Competitive bids will be accepted up to the auctioned amount and will be allotted at the last bid accepted in the auction (cut-off price). No commission will be paid for the Bonds auctioned.

SOURCE; ANA-MPA

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