Greece's Public.......>

GREECE T-BILL AUCTION PREVIEW: Greece's Public Debt Management Agency (PDMA)

issue a new 13-week Dec 15, 2017 T-bill for E1.0bln Wednesday. 

- RV: Mid-yield on the Greek 4.75% Apr 2019 bond has continued to squeeze lower

over the summer and currently sits at 2.733% as confidence in Greece grows.

- HISTORY: For comparison at the last 13-week T-bill auction on Sep 6 the PDMA

sold E1.3bln at an average yield of 1.91% and bid-to-cover of 1.41 times. Prior

to that on Aug 9, the PDMA allotted E1.1375bln at average yield of 2.17% ands

cover of 1.95 times. 

- NON-COMP: The PDMA will once again allocate an extra 30% of amount auctioned

in non-comp bids, and a further 30% in second day bids, to bring total amount to

be issued to E1.6bln. There will be a E1.6bln T-bill redemption on Sep 15, which

is seen underpinning demand at the auction. 

- TIMING: Results due to be announced at around 0915GMT.