8 Apr 2015
Greece raises 1.1 bln euros, sells all 6-month T-bills on offer – Reuters
FXStreet (Mumbai) - Greece successfully sold €1.138 billion of six-month Treasury bills at a yield of 2.97% on Wednesday, Greece's Public Debt Management Agency (PDMA) said. There was no deterioration in demand despite tight liquidity conditions.
The auction's success was crucial as Greece has to cover a loan repayment of €458 million to the IMF on Thursday as well as find cash for its pension and wages bill in April.
The sale's bid-cover ratio was 1.30, unchanged from March, as was the 2.97% yield. The amount raised included €263 million in non-competitive bids, the PDMA said, adding that the settlement date for Wednesday's auction will be April 14.
There was speculation that Greece's Prime Minister Alexis Tsipras, who is on a visit to Moscow, could receive some financial aid offer from Russia and the cash-strapped country would not be in position to refuse.
However, a Greek government official, quoted by Reuters, dismissed such speculation on Wednesday. The official said that Athens had not asked Russia for financial aid and wanted financial issues to be resolved with the EU.
The auction's success was crucial as Greece has to cover a loan repayment of €458 million to the IMF on Thursday as well as find cash for its pension and wages bill in April.
The sale's bid-cover ratio was 1.30, unchanged from March, as was the 2.97% yield. The amount raised included €263 million in non-competitive bids, the PDMA said, adding that the settlement date for Wednesday's auction will be April 14.
There was speculation that Greece's Prime Minister Alexis Tsipras, who is on a visit to Moscow, could receive some financial aid offer from Russia and the cash-strapped country would not be in position to refuse.
However, a Greek government official, quoted by Reuters, dismissed such speculation on Wednesday. The official said that Athens had not asked Russia for financial aid and wanted financial issues to be resolved with the EU.