Forex Broker: Greece Will Sell 1.5 billion euro Short-term Debt

[amandalanlulei]

Forex Broker—- Greek PDMA (Public Debt Management Agency) said on July 16th that Greece will auction 1.5 billion euro (or 1.94 billion US dollars) of 13-week public debt on July 20th to pay off its expiring bonds.

According to PDMA, this bond auction will only allow forex dealers to bid without any commission. During the auction, 30% of non-competitive tender will be submitted at most. Another 30% will be submitted before July 22nd. It is reported that about 2.4 billion euro of 3-month Greek national debt will be due on July 23rd.

The last issue of 13-week short-term national debt of Greece was on April 20th, 2010, with debt yielding rate of 3.65%, while this bond subscription yielding rate is 4.6%. This has been the second financing from global capital market since Greece got the emergency assistance worth 110 billion euro provided by EU and IMF in May. The 6-month short-term public debt issued on July 16th completed the program with favorable forex market reaction and the yields was as much as 4.65%.—-Forex Broker: IKONFX

More forex information, please check broker.

By Amanda.

[kevin jackson]

Will this affect the EUR in any way...?