EUR 3 billion reopening of GGB 3.375% due 16 June 2036
Disclaimer
ELECTRONIC VERSIONS OF THE MATERIALS YOU ARE SEEKING TO ACCESS ARE BEING MADE AVAILABLE ON THIS WEBPAGE BY THE HELLENIC REPUBLIC IN GOOD FAITH AND FOR INFORMATION PURPOSES ONLY.
THESE MATERIALS ARE NOT AN OFFER FOR SALE OF THE SECURITIES IN THE UNITED STATES. SECURITIES DESCRIBED IN THESE MATERIALS MAY NOT BE SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED. THE HELLENIC REPUBLIC DOES NOT INTEND TO REGISTER ANY PORTION OF THE SECURITIES OFFERING IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING OF SECURITIES IN THE UNITED STATES.
Please read this notice carefully, as it applies to all persons who view this webpage. Please note that the disclaimer set out below may be altered or updated. You should read it in full each time you visit the site.
Overseas Persons
Viewing the materials you seek to access may not be lawful in certain jurisdictions. In other jurisdictions, only certain categories of person may be allowed to view such materials. Any person who wishes to view these materials must first satisfy themselves that they are not subject to any local requirements that prohibit or restrict them from doing so.
The materials may not be distributed, taken or transmitted in or into the United States, its territories or possessions, Canada, Australia, Japan or any other jurisdiction in which to do so would be unlawful and any forwarding, distribution or reproduction of these materials in whole or in part is unauthorised. The offering and the distribution described in the materials may be restricted by law and persons into whose possession the materials or such other information comes should inform themselves about and observe any such restriction.
If you are not permitted to view these materials or are in any doubt as to whether you are permitted to view these materials, please exit this webpage.
Basis of access
Access to electronic versions of these materials is being made available on this webpage by the Hellenic Republic in good faith and for information purposes only. Any person seeking access to this webpage represents and warrants to the Hellenic Republic that they are doing so for information purposes only. Making press announcements and other documents available in electronic format does not constitute an offer to sell or the solicitation of an offer to buy securities. Further, it does not constitute a recommendation by the Hellenic Republic or any other party to sell or buy securities.
Confirmation of understanding and acceptance of disclaimer
Electronic versions of these materials are not directed at or accessible by persons located in the United States, its territories or possessions, Canada, Australia, Japan or any other restricted jurisdiction.
By clicking on the “I Agree” button, I certify that I am not located in the United States, its territories or possessions, Canada, Australia, Japan or any other restricted jurisdiction.
I have read and understood the disclaimer set out above. I understand that it may affect my rights. I agree to be bound by its terms. By clicking on the “I Agree” button, I confirm that I am permitted to proceed to electronic versions of these materials.

The Hellenic Republic
PRESS RELEASE – 10 June 2026
Summary Terms
Format: State Obligation (in dematerialized book entry form), RegS Cat 1, 144A eligible, CACs
Size: EUR 3 billion
Pricing Date: 10 June 2026
Settlement: 17 June 2026 (T+5)
Maturity: 16 June 2036
Coupon: 3.375%, Annual, ACT/ACT, 1 day of accrued
Re-offer Spread: MS+68 bps / DBR 2.9 02/36 +72.8 bps
Re-offer Yield: 3.799%
Re-offer Price: 96.527%
Listing: Athens, Regulated Market
Denominations: EUR €1,000 x €1,000
ISIN: GR0124042764 (immediately fungible)
Lead Managers: Alpha Bank, Barclays, Citi, Commerzbank, Nomura and Société Générale
Transaction Highlights
Ø On Wednesday, 10 June 2026, the Hellenic Republic, rated Baa3 / BBB / BBB / BBB (Moody’s / S&P / Fitch / DBRS, all stable), priced a EUR 3 billion tap of its 10-year GGB benchmark due 16 June 2036.
Ø The Joint-Lead Managers (JLM) of the transaction were Alpha Bank, Barclays, Citi, Commerzbank, Nomura and Société Générale.
Ø This transaction is the second syndicated EUR deal issued by the Hellenic Republic in 2026 and part of the announced EUR 8 billion medium and long-term debt issuance for the year. Besides the syndications, the Greek PDMA will continue holding regular bond auctions across its yield curve.
Ø The reopening of the 10-year GGB benchmark attracted strong investor demand, with over 287 orders for the transaction. The final orderbook closed in excess of 36 billion (including EUR 1.65 billion of JLMs interest), representing an impressive oversubscription ratio of approximately 12 times the issue size.
Execution Summary
Ø The Hellenic Republic announced its intention to reopen its 10-year GGB benchmark via syndication on Tuesday, 9 June at 13:30 CET. The announcement was met with a positive initial market response, with JLMs promptly receiving strong indications of interest from investors.
Ø On Wednesday, 10 June at 08:55 CET, the issuer and JLMs decided to release Guidance of MS+71 bps area to the market. At the same time, the orderbook was formally opened.
Ø The transaction was very well received by the market, with the orderbook exceeding EUR 31 billion by 10:20 CET (including EUR 1.55 billion of JLMs interest). At that stage, the final spread was set at MS+68 bps, with books scheduled to close at 11:00 CET.
Ø Supported by a high-quality final orderbook in excess of EUR 36 billion (including EUR 1.65 billion of JLMs interest), the transaction size was set at EUR 3 billion at 11:30 CET.
Ø At 14h09 CET, the tap of the 10-year GGB was priced with a re-offer yield of 3.799% and a re-offer price of 96.527%.
Ø The transaction benefited from a granular and well diversified investor base, with around 94% of the transaction allocated to non-domestic international investors. In terms of investor type, Fund Managers (59%) and the Banks community (23%), represented the lion’s share of the final allocation, followed by Hedge Funds (9%).
Distribution Statistics
Breakdown by Geography Breakdown by Investor Type


