Greece borrows with negative interest rate
The Greek government borrowed from the markets with a negative rate on its six-month bond.
The Debt Management Agency raised € 812.5 million, with the interest rate standing at -0.02% from 0.0% in the previous October issue. This is despite the fact that demand was slightly lower. The coverage ratio was 2.11 from 2.88 in the previous auction.
The amount includes non-competitive bids of € 187.5 million. The settlement date is December 6th.
This is the third time that the Hellenic Republic has borrowed at a negative rate. The first was in early October, when three-month bonds were issued at the rate of -0.02% and the second again with three-month bonds at the beginning of November, at the rate of -0.08%.
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