T-bill auction records even lower interest rate

The Public Debt Management Agency announced on Wednesday it had successfully auctioned off 13-week treasury bills, again at a negative yield. 

The PDMA borrowed 812.5 million euros through the sale of T-bills maturing on January 7, 2021, with the settlement date being Friday.

The original issue was initially meant to raise €625 million, but as total bids ran up to €1.344 billion, with a coverage ration of 2.15 times, the PDMA drew 30% more cash, with the interest achieved at a negative 0.16%, compared to -0.04% at the previous 13-week T-bill auction on August 5.