A Greek state auction achieved a coverage ratio of 1.59 on Wednesday, attracting 996 million euros in bids for 625 million euros of 13-week T-bills. The amount finally accepted was 812.5 million euros.

The uniform yield eased to 3.75%, compared to 3.83% recorded during a similar T-bill auction on Jan. 31, 2024. The same amount was accepted during the last such auction, according to the Public Debt Management Agency (PDMA).

The settlement date is Friday, April 5, 2024.

For the 2024 program, the Greek government’s borrowing needs amount to 18.9 billion euros. According to the “Strategic Financing Plan” unveiled two months about by PDMA, 10 billion euros will be covered through bond issuances, 4.1 billion euros will come from other sources, such as the European Investment Bank, the NextGenerationEU program, etc., 1.6 billion euros will be generated from the sale of stocks and other public assets, and 3.6 billion euros will be sourced from the government’s available liquidity funds.