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

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

launch a new 26-week May 4, 2018 T-bill for E875mln Wednesday. 

- BACKGROUND: The yield on the new Greek 5-yr bond has remained relatively

steady during September and currently the mid-yield is seen at 5.44%.

- HISTORY: For comparison at the last 26-week T-bill auction on Oct 4 the PDMA

sold E1.1375bln at average yield of 2.35% and bid-to-cover of 1.44 times. Prior

to this on Aug 30 auction the PDMA sold E1.1375bln at average yield 2.40% and

covered 1.39 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 E1.4bln. There will be a E1.4bln T-bill redemptions on Nov 3, which

is seen underpinning demand at the auction. 

- TIMING: Results due to be announced around 1010GMT.