ECONOMY

Auction of 13-week T-bills matches record low interest rate

auction-of-13-week-t-bills-matches-record-low-interest-rate

The Public Debt Management Agency has collected another 812.5 million euros, set to rise to €1 billion by the end of the week, through a treasury bill issue on Wednesday.

Its auction of 13-week T-bills, originally seen raising €625 million on the market, secured a coverage ratio of 1.71 and a negative interest rate of 0.32%, matching the record low rate of the previous such auction on January 5.

The T-bills mature on May 7, 2021, and the settlement date is Friday.

Last week the PDMA drew another €1 billion through T-bills on top of the €3.5 billion it secured from the issue of a benchmark 10-year bond.