Greek Finance Ministry announces auction of Treasury bills amounting to EUR 1.25 billion on January 7

Greek Finance Ministry announces auction of Treasury bills amounting to EUR 1.25 billion on January 7

Athens, January 5, 2015/ Independent Balkan News Agency

By Spiros Sideris

The amount of EUR 1.25 billion will try to absorb the Greek Finance Ministry next Wednesday, January 7, by issuing six-month Treasury bills.

According to the announcement of the Public Debt Management Agency (PDMA), “on Wednesday, January 7, 2015 will be held an Auction of Treasury Bills with a 26-week duration, in a dematerialised form, amounting to EUR 1,25 billion, maturing on July 10, 2015”.

The settlement date will be Friday, January 9, 2015 (T+2). It is clarified that the interest rates of the Treasury bills are calculated with a timebase ACT/360.

The auction will take place with competitive offers from Primary Market Dealers on HDAT, in accordance with the procedure provided for in their Management Regulations.

Also, under the Rules of Primary Dealers, there is the possibility of non-competitive bids, both during the day of the auction, and during the period of one working day after the end of that, and until 24:00.

Non-competitive bids will be satisfied at the cut-off price, up to a total of 30% of the auctioned amount for each of the above two cases.

No commission will be paid for the Treasury bills.