ATHENS - The Hellenic Republic has concluded a post-stabilization period without the need for intervention, as per the announcement from J.P. Morgan SE, the stabilization coordinator. The notice, dated Tuesday, indicated that no stabilization actions were required following the issuance of €2 billion in 15-year and €1 billion in 30-year fixed-rate notes.
The 15-year notes, due on July 18, 2038, carry a 4.375% interest rate, while the 30-year notes, maturing on June 15, 2054, have a coupon of 4.125%. Both tranches have been listed on the Athens Stock Exchange, with the 15-year notes offered at 103.206% and the 30-year notes at 95.383%.
J.P. Morgan SE acted as the stabilization coordinator, with Barclays, BNP Paribas (OTC:BNPQY), Commerzbank (ETR:CBKG), Eurobank, and Piraeus serving as stabilization managers. Stabilization measures are typically undertaken to support the market price of securities after their issuance to prevent or mitigate price volatility.
The absence of stabilization activities suggests that the market has received the new debt issuance favorably, maintaining price stability without external support. This outcome is a positive sign for the Hellenic Republic’s financial standing and investor confidence in its government bonds.
The issuance and subsequent stabilization period are governed by the Market Abuse Regulation (EU/596/2014) and the rules of the Financial Conduct Authority, ensuring transparency and fairness in the process.
This information, based on a press release statement, is intended purely for informational purposes and does not constitute an offer to buy or sell any securities.
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