T-Bill Auction Drums Up €812M for Greece



 

Greece made €812.5 million ($1 billion) in an auction of treasury bills on Wednesday, according to the Public Debt Management Agency (PDMA).

The PDMA in a statement said during the auction of €625 million of 13W T-Bills conducted on Wednesday, total bids reached €1.75 billion and the amount finally accepted was €812.5 million.

“On top of that, Primary Dealers can additionally submit non-competitive bids up to 30 percent of the amount initially auctioned until April 12, 2018 (12 p.m. local time),” the PDMA added.

The settlement date is April 13, 2018.

Greece runs sales of treasury bills as a way of financing the country alongside bailout monies from international creditors.

On Tuesday it was reported that Greece’s growth was the lowest among eurozone countries for 2017, with a GDP rise of just 1.4 percent while the eurozone average was 2.3 percent, according to European Central Bank figures.

At the same time, Greece showed a 1.1-percent decline in government spending, while the average in the euro area was a 1.2-percent increase.