BUSINESS

Greece sells six-month T-bills at lower yield

TAGS: Finance

Greece sold 1.625 billion euros ($1.84 billion) of six-month T-bills on Wednesday to refinance maturing issues, the country's debt agency PDMA said.

The six-month paper was sold at a yield of 2.78 percent, down from 2.97 in a previous sale last month. The amount raised included 375 million euros in non-competitive bids.

Greek 10-year bond yields hit the lowest level since September 2009 on Tuesday. It traded at 5.3 percent on Wednesday.

The sale's bid-to-cover ratio was 1.30, unchanged from the previous sale.

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 July 7. [Reuters]

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