The Greek state on Wednesday auctioned off a 52-week 375-million-euros T-bill issue with a uniform yield of 3.70 percent, down from 3.81 percent recorded in a previous such auction last September.

According to the Public Debt Management Agency (PDMA), total submitted offers reached 758 million euros, with the coverage ratio slightly more than twice the amount auctioned, and with the amount accepted reaching 487.5 million euros.

Primary Dealers can additionally submit non-competitive bids up to 30 percent of the amount initially auctioned until Thursday, Dec. 7 (12 p.m. local time). The settlement date is Dec. 8, 2023.

A 15-year bond was oversubscribed by 3.82 times last July, as total offers amounted to 13.5 billion euros.

The issue raised 3.5 billion euros, with the final spread set at 125 basis points above the mid swap, i.e. close to 4.45 percent, from 130 basis points above the mid swap (3.2 percent).