PDMA to auction one-year T-bills
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.