Less than 1% return on Greek three-month treasury bills

Less than 1% return on Greek three-month treasury bills

The Greek State gathered the amount of € 812.5 million from the three-month treasury bills’ auction.

The important thing in this case is that the interest rate fell to 0.99%, from 1.6% in the previous auction, while the issuing was overlapped by 3.44 times (1.87 times in the previous auction).

As announced by the Public Debt Management Agency (PDMA), a 13-week bond auction of € 625 million was held today. The yield stood at 0.99%. Total bids of € 2,153 million were submitted, which exceeded the requested amount by 3,44 times.

The auction was conducted through the Primary Dealers and the settlement date is Friday, January 12, 2018.

The accepted bids were up to the amount of the auctioned bid, as well as non-competitive bids of € 187.5 million that were also accepted.

Under the Market Operator’s Rulebook, additional non-competitive bids of 30% of the auctioned bid may be submitted until Thursday, January11, 2018 at 12 pm…/IBNA