BUSINESS

T-bill rate drops into deeper negative territory

TAGS: Markets

The Public Debt Management Agency (PDMA) announced on Tuesday it successfully auctioned six-month treasury bills at a historic low interest rate of minus 0.12%.

The 26-week T-bill auction was originally planned to fetch 625 million euros.

However, the major buying interest from investors, which came to a total bid amount of €1.062 billion, led to the PDMA raising €812.5 million.

On top of that, primary dealers can additionally submit non-competitive bids up to 30% of the amount initially auctioned until Thursday noon, so that the sum will add up to exactly €1 billion.

In the previous auction of six-month T-bills Greece had achieved an interest rate of -0.10%.

The settlement date for Tuesday’s transaction is this Friday.

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