A 26-week treasury bill auction is set to be conducted by the PDMA (Public Debt Management Agency) on August 19. According to an official announcement, the auction will be conducted in dematerialized form, with a total value of €400 million, maturing on February 19, 2027. Interest on the treasury bills will be calculated on an ACT/360 time basis.
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PDMA auction: Competitive bids from Primary Dealers on the HDAT platform
According to the official notice, the auction will be conducted through competitive bids submitted by Primary Market Dealers on the HDAT (Electronic Secondary Securities Market) platform, in accordance with the procedures set out in their Operating Regulation, as in effect from April 1, 2026.
Additionally, under the Primary Dealers Regulation, non-competitive bids may also be submitted on the day of the auction up until 12:00 p.m. Non-competitive bids will be filled at the weighted average price of successful competitive bids, up to a maximum of 25% of the total auctioned amount. Supplementary non-competitive bids will not be accepted on Thursday, August 20, 2026. No commission will be paid on the treasury bills.
