Greece raises 1.3 billion euros from T-bills auction

Greece on Tuesday successfully auctioned a six-month Treasury bills issue raising 1.3 billion euros from the market with more favourable conditions. An announcement by the Public Debt Management Organization said that the average yield of the issue was set at 4.80 pct from 4.85 pct in the previous auction of same T-bills in August. Bids submitted totaled 3.020 billion euros, 3.02 times more than the asked sum.
The auction was made through the market’s primary dealers with settlement date set for Friday, 9 September.
The organization accepted bids up to 1.0 billion euros, along with non-competitive bids worth 300 million euros. The organization will also accept non-competitive bids up to 30 pct of the asked sum by Thursday, 8 September.

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