Greece is expected to return to international debt markets on Wednesday, June 10, with the reopening of its 10-year government bond, just two days before the European Central Bank is widely expected to deliver its first interest-rate increase of the year.
According to the Public Debt Management Agency (PDMA), the Greek state has mandated Alpha Bank, Barclays, Citi, Commerzbank, Nomura and Societe Generale to lead the reopening of the bond maturing on June 16, 2036. The transaction forms part of the PDMA’s first-half 2026 borrowing programme, which had already included a planned bond reopening in mid-June.
The move is not primarily aimed at raising additional liquidity. Instead, Greece’s regular market operations are designed to strengthen the yield curve for Greek government securities, improve market depth and support activity in the secondary bond market.
Despite mounting pressure across eurozone bond markets amid expectations that the ECB will raise rates by 25 basis points on June 11, Greek debt has continued to show resilience. The yield on Greece’s benchmark 10-year bond currently stands at around 3.77%, leaving the spread over the equivalent German Bund at approximately 78 basis points.
At the same time, Greece continues to benefit from one of the lowest public debt servicing costs in the euro area. Data released by Eurostat show that the cost of servicing Greek government debt edged down to 2.18% in 2025 from 2.27% a year earlier. The decline reflects the exceptionally long maturity profile and favourable structure of the country’s debt, factors that have helped shield public finances from the broader rise in borrowing costs across Europe.
