New 10-year bond issue due

Greece is likely to make its 2023 market debut on Tuesday with a syndicated issue of a new 10-year bond, in the context of the front-heavy strategy by the Public Debt Management Agency, in view of the further interest rate increases expected by the European Central Bank, but also general elections, which may cause market volatility and instability.

Greece follows a number of eurozone peers that have made market forays this month, with analysts estimating that 40-50% of all this year's issues will take place in the first half of the year.

The issuance process has been undertaken by six international banks, Barclays, BofA Securities, Commerzbank, Goldman Sachs, JP Morgan and Societe Generale, while the new bond will expire on June 15, 2033.

The goal is to raise 2-2.5 billion euros, with the final amount being formed depending on the offers investors will submit,...