Greece Prepares Return to Markets with New 10-Year Bond Issue

Greece is expected to return to international bond markets in the near term with a new 10-year government bond issuance, according to a Reuters report.

As reported, the Public Debt Management Agency (PDMA) has appointed BofA Securities, BNP Paribas, Deutsche Bank, Goldman Sachs, JP Morgan and Morgan Stanley as joint lead managers for the first bond offering of the year.

The syndicated issue is expected to be launched in the immediate future, depending on prevailing market conditions, Reuters said.

The Greek state is ready to tap the markets through the PDMA and may even secure up to 50% of its annual borrowing needs within Jan. According to sources, the initial plan foresees a 10-year bond issuance of between 3 and 3.5 billion euros, with the possibility of reaching 4 billion euros. The total borrowing target for the year stands at 8 billion euros.

One source noted that market conditions appear favorable for a transaction before the end of Jan.

Overall, Greece plans to raise around 8 billion euros from the markets in 2026 to cover a substantial part of its financing needs. The strategy, designed by the PDMA, broadly mirrors last year’s plan, when approximately 7.6 billion euros was raised through bond issuance.

Public Debt and Borrowing Outlook

For 2026, net borrowing is projected to reach 13 billion euros, up from around 8 billion euros in 2025. In parallel, under the PDMA’s issuance calendar for the first half of 2026, three reopenings of existing Greek government bonds are scheduled for Feb. 11, April 15 and June 17.

These moves aim to support the ongoing servicing of public debt, which continues to decline as a share of GDP. According to the 2026 budget, Greece’s public debt ratio is expected to fall by 7.7 percentage points to 138.2% of GDP, from 145.9% in 2025.

Source: tovima.com