Greek State to Reopen 3.875% Bond on Wed.

The Greek state on Wednesday will reopen a 3.875% bond that is set to mature on March 12, 2029, the country’s Public Debt Management Agency announced on Tuesday.

The amount to be auctioned will reach up to 250 million euros and the reopening aims to cover investors’ demand and to facilitate secondary market operation, PDMA added. A settlement date of July 24 was given.

Participation in the auction is limited to primary dealers (PDs), who can submit up to five competitive bids each through the Electronic Trading System (HDAT) by noon local time (10.00 GMT) on Wednesday.

Greece regained its investment-grade credit rating over the recent period after losing the rating in 2010, with top officials saying the country plans borrow roughly 10 billion euros this year.