Greece to Prepay $15 Billion, Eyes Debt Below Italy’s

Greece is preparing to repay about 13 billion euros, or roughly $15.1 billion, of debt ahead of schedule in 2026, according to a person familiar with the matter cited by Bloomberg. The goal is to bring the country’s total stock of borrowing below Italy’s by the end of the year.

The person, cited by Bloomberg and who asked not to be identified because no final decision has been made, said the repayments will include about 2.5 billion euros in loans from the European Financial Stability Facility and a 2.2 billion euro bond that matures in 2027. Greece will also cut 1.2 billion euros from its Treasury bill stock by Dec. 31, the person said according to the financial publication.

Building on June’s playbook

The move follows a similar step in June, when Greece prepaid 6.9 billion euros in bailout loans, a decision that helped push yields on its 10 year bonds below those of Italy, France and the United Kingdom.