The auction was oversubscribed by 2.9 times, as the PDMO received offers amounting to €294 million.
The PDMO said it accepted offers amounting to €100 million with a weighted average yield of 0,16%. The accepted yields ranged from -0.17% to 0.15%, the PDMO added.
From the total offers received, €139 million were competitive offers and €155 non-competitive.
Of the total accepted offers, €75 million were competitive and €25m non-competitive.
According to the PDMO’s annual financing programme, T-bills are expected to cover up to 25% of the state’s total financing needs for 2018 estimated between €1.2 billion and €1.5 billion.