The Public Debt Management Agency (PDMA) raised €812.5 million through the issue of three-month T-bills on Wednesday, Jan. 3. The yield settled at 3.84%, slightly lower than the 3.88% recorded in the previous such issue last November. The settlement date for the transaction is scheduled is Friday.
According to estimates from European banks, and considering the Greek state’s loan program of approximately 10 billion euros for 2024, the country is expected to tap into the markets twice in the first quarter of the year, issuing long-term bonds with maturities ranging between five to 10 years. This move aligns with the country’s broader financial strategy and contributes to managing its debt obligations more effectively.
Only primary dealers are allowed to participate, according to their operation regulations. During the auction non -competitive bids can be submitted up to 30% of the auction amount until noon, local time.
No additional non-competitive bids will be accepted on Thursday, Jan. 4, 2024. The day count convention is ACT/360. No commission will be paid for the T-Bills auctioned. Only bids through the Electronic Secondary Securities Market (HDAT) are accepted.