The Greek Finance Ministry will try to earn some 1.25 billion euros by issuing six-month treasury bills by Wednesday, January 7, according to a Public Debt Management Agency (PDMA) announcement.
As it is stated in the announcement, “on Wednesday, January 7, 2015, an Auction of Treasury Bills will be held with a 26-week duration, in a dematerialized form, amounting to EUR 1.25 billion, maturing on July 10, 2015.” Friday, January 9, has been set as a settlement date, while it is noted that the bills’ interest rates are calculated with an ACT/360 timebase.
No commission will be paid for the treasury bills and the auction will take place with competitive offers from Primary Market Dealers on the Electronic Secondary Securities Market (HDAT), in accordance with the procedure provided for in their Management. Furthermore, according to the Rules of Primary Dealers, there is a possibility of non-competitive offers during auction day but also during the next day (January 8) until 00:00. The non-competitive offers will be satisfied at the cut-off price, up to a total of 30% of the auctioned amount for each of the above two cases.
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