An auction of 26-week T-Bills worth €500 million, maturing on February 21, 2025, will be held on Wednesday, August 21, the Public Debt Management Agency announced today. 

The settlement date will be Friday, August 23, 2024 (T+2). Interest on the notes is calculated on an ACT/360-time basis.

According to the guidelines outlined in their Operating Rules, the Main Market Traders in the U.D.A.T. will conduct the auction through competitive bids.

In addition, under the Rules of the Primary Dealers, non-competitive bids may be submitted on the day of the auction until 12.00 p.m. Non-competitive bids will be satisfied at the price of the last bid accepted in the auction (cut-off price) up to a total amount of 20% of the auctioned amount. 

No additional non-competitive bids will be accepted on Thursday, August 22, 2024.