T-bills sold at improved yield

Greece sold treasury bills worth 812.5 million euros on Wednesday, according to a Public Debt Management Agency (PDMA) announcement.

The 52-week treasury bills were sold at a 0.95 percent yield, down from 1.09 percent at the previous similar auction conducted on December 12, 2018, according to the e-mailed PDMA press release.

Since 2010, when debt-laden Greece was shut out of international markets, the PDMA has been selling mainly three-month and six-month treasury bills each month to cover the country’s financing needs, in parallel with the Greek bailout programs.

Last August, the country exited the last of the bailout programs which helped it avert default and a possible Grexit and is gradually returning to the markets.

Earlier this month, Athens drew 2.5 billion euros from its first 10-year bond issue since 2010, with a rate of 3.9 percent.

[Xinhua]