T-bill auction raises 812.5 mln at near-zero interest rate

The Public Debt Management Agency announced on Wednesday it had successfully auctioned 26-week treasury bills and raised 812.5 million euros at a near-zero interest rate.

Its issue of €625 million had a coverage ratio of 2.83 times and achieved a yield of just 0.02%, against a yield of 0.13% in the previous auction of six-month T-bills on July 1.

The settlement date is Friday and the bills will mature on January 29, 2021.