PDMA

Meanwhile, Greece has announced an early repayment of the Greek Loan Facility, aiming to reduce public debt by the end of the year.

The total amount offered was 946 million euros, with the coverage ratio at 1.89

The auction of the 13-week T-Bills was announced by Greece's Public Debt Management Agency on Friday and only primary dealers are eligible to participate.

Total amount offered reaches 985mln€, which was covered 1.97 times

The Greek state aims to raise 500 million euros, according to the Public Debt Management Agency (PDMA)

The uniform yield reached 2.81%, while the cut-off price was 104.570

Bond of 3.875% is set to mature on March 12, 2029

Bond carries a fixed rate of 3.375%, and with maturity date of June 15, 2034.

Greece's Public Debt Management Agency is preparing the official request to be submitted at September's Euro Working Group meeting

The uniform yield eased to 3.75%, compared to 3.83% recorded during a similar T-bill auction on Jan. 31, 2024

The move is expected to yield significant savings for the Public, with an estimated 850 million euros saved over the course of the decade, solely from the interest payments on the bonds issued last month

PDMA said roughly 10 billion euros will be covered by bond issues, another 4.1 billion euros will sought from the European Investment Bank (EIB), the Next Generation EU economic recovery package and other credit lines.