Greece sold its targeted amount at a Treasury bill auction Wednesday, although the allotment yield increased from last month. The Greek Public Debt Management Agency sold EUR1.138 billion in 26-week T-bills, with the allotment including a 30% non-competitive tranche above the EUR875 million offer size, in line with Greek auction rules.
Greece sold 1.138 billion euros of six-month Treasury bills covering the amount it wanted to refinance a maturing issue.
But for Athens the funds came at a higher cost. The T-bills were priced to yield 2.97 percent, up 22 basis points from 2.75 percent in a previous sale in February, the country’s debt agency PDMA said.
The sale tested the country’s ability to raise funds amid a cash crunch. And it shows “no deterioration in demand despite tight liquidity conditions,” Reuters notes.
However investors’ risk perceptions about the country’s finances seem to remain high.
additional source: capital.gr