The interest rate on an auction of 500 million euros of 13-week treasury bills held on Wednesday fell to 2.37% from 2.82% in the previous auction last December, according to the Public Debt Management Agency (PDMA).
The issue was 2.45 times oversubscribed, with the total amount offered reaching €1.225 billion, compared to €500 million that the PDMA sought to raise. Bids were accepted up to the auctioned amount, as well as non-competitive bids of €100 million.