BUSINESS

Greece rolls over 3-month T-bills, yield steady

TAGS: Finance

Greece sold 1.138 billion euros ($1.24 billion) of three-month T-bills to refinance a maturing issue, the country's debt agency PDMA said on Wednesday.

The three-month paper was sold at a yield of 2.70 percent, unchanged from a previous sale last month. The amount raised included 263 million euros in non-competitive bids.

The sale's bid-to-cover ratio was 1.61, higher than the 1.30 in the previous auction, thanks to increased demand from foreign investors.

In a rollover T-bill holders renew their positions instead of getting paid on the maturing paper they hold. The settlement date of the new bills is May 12. [Reuters]

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