A new issue of a 30-year Greek Government bond was decided by the political leadership of the Ministry of Finance and is being implemented by ODDIX.
After his fruitful contacts head of the ODDHI Dimitris Tsakonas in Washington, was authorized to BNP Paribas, BofA, Deutsche Bank, Goldman Sachs Bank Europe SE, JP Morgan and Piraeus Street as Joint Lead Managers for a new multi-year government bond maturing on June 15, 2054.
The syndicated transaction will start soon depending on market sentiment.
It is recalled that a few days ago the INSTRUCTIONS had also proceeded to an auction with the reissuance of maturing Greek securities February 4, 2035 pumping 200 million euros. Performance was modeled on 3.61%.
Based on her data ELSTAT, the Greek debt defaulted on its end 2023 at 356.7 billion euros against €356.8 billion at the end of 2022. The reduction in absolute numbers is marginalbut as a percentage of GDP significant.
- From 172.7% of GDP in 2022 it was limited to 161.9% of GDP at the end of 2023.
The Greek debt is characterized by long repayment periodsthe country’s annual financial needs do not exceed 6% of GDP (while the average in the Eurozone is 10%), the country produces primary surpluses and with the overperformance of the Budget it can prematurely repay the expensive bonds of the past.
