Greece to reopen 10-year bond issue on Wed.

Greece will reopen a 10-year bond issue on Wednesday, seeking to raise up to 300 million euros from the markets. The 10-year bond issue offers a coupon of 4.25 percent, with a maturation date of June 16, 2033. The settlement date will be Wednesday, April 26.

This will be the first bond auction to be held in a framework of a three-month auction program announced recently by the Public Debt Management Authority (PDMA), with the aim of improving the operation of the secondary bond market.

The move comes a few days ahead of a decision by Standard & Poor’s regarding Greece’s credit rating on Friday. Only market primary dealers will participate in the auction.