PDMA to tap markets, reopening 15- and 20-year bond issues

PDMA to tap markets, reopening 15- and 20-year bond issues

The Public Debt Management Agency (PDMA) announced on Friday that on Monday it will proceed with an extraordinary auction for the re-opening of previous 15-year and 20-year bonds, aiming at drawing some 400 million euros in total. 

It will reopen the bond with maturity January 30, 2037 with a fixed rate of 4.00% to draw up to €250 million, and the one maturing on January 30, 2042 with a fixed rate of 4.20% by auctioning up to €150 million. 

This move comes to provide additional liquidity on these maturity points of the Greek state bond curve, the PDMA explained. 

The settlement date for both will be next Monday, June 6, and only primary dealers are allowed to participate. 

The procedure follows the successful reopening of a benchmark 10-year bond last Monday that fetched €500 million at a reduced interest rate. The PDMA will also auction on Wednesday new 26-week treasury bills with maturity December 2, 2022. 

The amount to be auctioned is €625 million and the settlement date is this Friday, June 3.

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