The Greek economy is preparing for another capital raising move, as the Public Debt Management Agency proceeds with an auction of 26-week treasury bills worth a total of €500 million. The process will take place on August 20, providing participation opportunities for private investors as well.
The settlement date will be Friday, August 22, 2025 (T+2) and interest on the treasury bills is calculated on an ACT/360 time basis.
The auction will be conducted through competitive bids by Primary Government Securities Dealers at the Electronic Secondary Securities Market, according to the procedure outlined in their Operating Regulation.
Additionally, based on the Primary Dealers Regulation, there is the possibility of submitting non-competitive bids on the auction day until 12:00 p.m. Non-competitive bids will be satisfied at the price of the last accepted bid in the auction (cut-off price) up to a total amount of 20% of the auctioned sum. Supplementary non-competitive bids will not be accepted on Thursday, August 21, 2025. No commission will be charged for the treasury bills.
It was also announced that parallel to the auction, the Greek State provides the opportunity for individuals (private investors) to acquire these securities through public subscription at any Bank or Investment Company, with a maximum nominal value of €15,000 per individual. The distribution price will be the cut-off price from the auction. The total amount of securities to be distributed through this procedure will be announced after completion of the public subscription.
Registration period: From Tuesday, August 19, 2025 through Thursday, August 21, 2025. A prerequisite for purchasing the securities is their registration in a Central Securities Depository account. The process of opening such an account is done through the aforementioned distribution entities, with required documentation being a Police Identity Card and Tax Registration Number.
It is reminded that both individuals and legal entities can acquire government securities (Treasury Bills or Greek Government Bonds) through Banks and Investment Companies, according to existing standard procedures.
