Greece is reissuing government bonds with a 3.375% fixed interest rate, maturing on June 15, 2034, to meet investor demand and support the secondary bond market. The Public Debt Management Agency (PDMA) announced that up to €250 million will be auctioned on November 20, with settlement scheduled for November 27, 2024.
Participation is restricted to primary dealers (PDs), who can submit competitive bids via the HDAT trading platform. Accepted bids will be satisfied at the cut-off price, with no commission provided for the bonds. Auction results will influence PD evaluations.
Additionally, Greece is preparing to repay approximately €8 billion in bilateral loans under the Greek Loan Facility (GLF) by December 15, 2024, using a €15.7 billion cash buffer held with the European Stability Mechanism (ESM). This move aims to save €300 million annually in interest costs through 2028 and enhance Greece’s debt profile.