PDMA to auc­tion one-year T-bills

Kathimerini English - - Focus -

The Pub­lic Debt Man­age­ment Agency an­nounced yesterday it will auc­tion 52-week trea­sury bills in book en­try form, with ma­tu­rity on De­cem­ber 13, 2019. The amount to be auc­tioned is 625 mil­lion eu­ros. The set­tle­ment date is next Fri­day. Only pri­mary deal­ers are al­lowed to par­tic­i­pate, ac­cord­ing to their op­er­a­tion reg­u­la­tions, the PDMA stated. No com­mis­sion will be paid for the T-bills auc­tioned. On Wed­nes­day the PDMA raised 1.66 bil­lion eu­ros in a 26-week T-bills auc­tion. The trea­sury bills were sold at a 0.9 per­cent yield, up 0.5 per­cent from the pre­vi­ous sim­i­lar auc­tion con­ducted in Oc­to­ber. In the past eight years, as the coun­try has been shut out of in­ter­na­tional mar­kets, the PDMA has been sell­ing three-month and six-month trea­sury bills each month to cover ma­tur­ing debts to meet its fi­nanc­ing needs, in par­al­lel with the Greek bailout pro­grams. On Au­gust 20 this year, Greece ex­ited the third bailout pro­gram which helped keep it afloat and in the eu­ro­zone, and it is pre­par­ing for its full re­turn to the mar­kets in com­ing months, ac­cord­ing to of­fi­cials from the Fi­nance Min­istry.

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