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Greece To Raise E12bln Via Bonds In 2022

EUROZONE ISSUANCE

Greece's PDMA has issued its 2022 funding strategy, which confirms previous media reports that the country would aim to raise E12bln in M-T/L-T debt issuance in 2022, issuing at least 4 new bonds.

  • The PDMA confirms Greece is contemplating the issuance of an inaugural Green GGB "in late 2022".
  • The E12bln in planned debt issuance represents a little under half of the estimated E24.8bln in financing needs/sources.
  • Note, financing needs take into account E5.2bln of early debt repayments (t-bill stock reduction, official sector debt, etc).
  • "PDMA funding strategy for year 2022 will focus on the continuous presence in the international debt markets, accompanied by the reduction in debt-to-GDP ratio, proactive management of the debt portfolio and the preservation of a large cash buffer."

The full PDMA funding document is available here (PDF)

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