BUSINESS

Lower yield in T-bill auction

TAGS: Markets, Finance

Greece sold 812.5 million euros of three-month T-bills on Wednesday to refinance maturing issues, the country’s debt agency PDMA said.

The three-month paper was sold at a yield of 2.33 percent, down from 2.70 in a previous sale last month.

The amount raised included 238 million euros in non-competitive bids. The sale’s bid-to-cover ratio was 1.85, up from 1.30 in the previous sale.

The settlement date of the new bills is on Friday.

[Reuters]

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