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Syndication preview: New Jun-31 GGB

GREECE
  • Greece will come to the market this morning to launch a new long 10-year GGB via syndication. We expect a transaction size of E2.5-4.0bln.
  • Greece held two 10-year syndications in 2020, launching the 1.50% Jun-30 GGB in June for E3.0bln and tapping it for E2.5bln in September.
  • Book sizes for the transactions were in excess of E15.75bln and E18.0bln respectively.
  • Greece also held three other syndications in 2020, launching the 15-year 1.875% Feb-35 in January for E2.5bln, reopening it in October for another E2.0bln and launching the 7-year 2.00% Apr-27 GGB in April.
  • Pricing timings: October: 16:02, September: 16:50, June: around 17:20, April: 15:47, January: around 16:00.

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