ECONOMY

Greece raises 1 bln euros at T-bill auction

greece-raises-1-bln-euros-at-t-bill-auction

On Wednesday, the same day as its 10-year sovereign bond issue, which raised 3.5 billion euros at a record low interest rate of just 0.8%, Greece also auctioned six-month treasury bills that fetched a total of €1 billion, the Public Debt Management Agency announced on Thursday.

Against an original target for €625 million, the bids added up to €1.249 billion, meaning that the issue was twice oversubscribed.

The PDMA collected €812.5 million from competitive bids and another €187.5 million from non-competitive ones, seeing the interest rate slump further to a negative 0.28%, against -0.22 at the previous such issue on December 30, 2020. 

The settlement date is Friday.