A reopening of a 10-year Greek bond issue was over-subscribed by more than five times during an auction on Wednesday.
Greece’s Public Debt Management Authority (PDMA) said bids totaled roughly 1.7 billion euros, significantly up from the 300 million euros sought by the Greek state from the markets.
The yield was set at 4.31 percent, slightly above the 4.25 percent of the bond’s coupon, but down from a 4.4-percent yield in the electronic secondary bond market.
The latest issue covers approximately 90 percent of this year’s borrowing program, as announced by the Greek state.
The country has raised roughly 6.3 billion euros from the markets so far in 2023, nearly covering a target of seven billion euros for the entire year.
