The tender book for the new 10-year bond debuting on the market this year has been opened.
The initial guidance for the rate was set at mid swap +107bp, close to 3.65%. The aim is to raise €3bn or more depending on demand.
It will be recalled that Public Debt Management Agency instructed BofA, Deutsche Bank, Goldman Sachs, Morgan Stanley, National Bank, and Societe Generale to run the issue.
The government is present in the markets in the first month of the year, demonstrating the readiness it is in amidst turbulence in the bond market. Of particular importance will be the composition of the investors we attract.
Based on Public Debt Management Agency data, following the recovery of the investment grade, the share of hedge funds in Greek bond issuance has been reduced to 6.7%, from 11% in 2019. Institutional investors, on the other hand, are at 63.7% in 2024, up from 53.7% in 2023.