Greece to reopen 10-year bond as it returns to international markets

Greece is expected to return to international markets on Wednesday through the reopening of its benchmark 10-year bond, two days before the European Central Bank is widely expected to deliver its first interest-rate increase of the year.

The Public Debt Management Agency (PDMA) said that it had mandated Alpha Bank, Barclays, Citi, Commerzbank, Nomura and Societe Generale to lead the reopening of the bond maturing on June 16, 2036, CE Report quotes ANA-MPA.

The transaction was included in the PDMA’s borrowing program for the first half of 2026, which envisaged a bond reopening on June 17. Such market operations are aimed less at raising additional liquidity and more at strengthening the Greek government bond yield curve and enhancing activity in the secondary market.

Despite pressure across eurozone bond markets stemming from expectations that the ECB will raise its key interest rates by 25 basis points on Thursday, June 11, the Greek debt market has remained resilient.

The yield on Greece’s benchmark 10-year bond was trading at around 3.77% in the secondary market, only 78 basis points above the yield of the equivalent German Bund, which stood at 3.07%.

According to Eurosta, Greece continues to benefit from one of the lowest public debt servicing costs in the euro zone, despite maintaining one of the bloc’s highest debt-to-GDP ratios.

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