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FINANCIAL NEWS

Greece raised 813m through 13-week T-Bills at 2.33% yield

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The PDMA successfully auctioned yesterday a EUR625mn 3-month T-Bill. The yield was set at 2.33%, at lower levels compared to a 2.70% yield during the same term auction that took place a month ago.

 

Yesterday’s issue was oversubscribed 1.85x and the PDMA accepted a total of EUR812.5mn. Press reports refer to strong interest by foreign investors, who took up 59% of the issue.

 

The aforementioned successful T-Bill auction combined with the fact that the 10-year GGB yield declined to a 34-month low yesterday (5.29%) create a positive environment for Greece to potentially tap credit markets soon.

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