Most T-bills snapped up by foreign investors

Foreign investors picked up almost two-thirds of Treasury bills Greece sold on Tuesday, charging the government a cheaper interest rate than at the previous auction, according to the Public Debt Management Agency (PDMA).

PDMA said the country raised 390 million euros from the T-bill auction, higher than the originally targeted 300-million-euro amount.

The uniform yield beat market expectations by coming in at 3.85 percent, much lower than at the last 13-week T-bill tender in January, which came in at 4.10 percent.

?We are content with the continuing high level of foreign participation, which was close to two-thirds at this auction,? PDMA chief Petros Christodoulou told Dow Jones. ?We are also happy to again be piercing below the 4 percent interest rate level.?

Demand for the short-term debt exceeded supply by more than five times, PDMA added.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.