Greece received a strong vote of confidence from the markets, as the Greek government raised €3 billion from the reissuance of its 10-year bond maturing in June 2036, with bids soaring to €31 billion.
Read: Greek government enters markets today: 10-year bond reissuance proceeds
Annual borrowing program nearly completed
The reissuance of the 10-year bond aims not so much at raising additional liquidity, but rather at strengthening the curve of Greek securities and boosting the secondary market. In any case, despite bond markets in the eurozone moving under pressure created by the European Central Bank’s (ECB) apparent intention to proceed on Thursday, June 11, with a 0.25% interest rate increase, the Greek market shows resilience. It is indicative that the yield of the Greek 10-year bond in the secondary market stands at 3.77%, and is only 0.78% higher than that (3.07%) of the corresponding German security.
However, according to data published yesterday by Eurostat, the cost of servicing public debt in Greece is among the lowest in the eurozone.
Specifically, the servicing cost declined marginally in 2025 to 2.18% from 2.27% in 2024, a development that reflects the long duration and special structure of Greek debt. However, according to data published by the Public Debt Management Agency, the cost of servicing public debt (General Government) at the end of March 2026 was 1.38% on a cash basis including swaps and 1.84% including swaps plus deferred interest on EFSF loans.
