BUSINESS

Greece sells 6-month T-bills, yield falls to 2.5 pct

TAGS: Finance

Greece sold 813 million euros ($961.5 million) of six-month T-bills on Wednesday to refinance a maturing issue, the country's debt agency PDMA said.

The paper was sold at a yield of 2.50 percent, down 28 basis points from a previous sale last month. The amount raised included 187.5 million euros in non-competitive bids.

The sale's bid-to-cover ratio was 1.86, up from 1.30 in the previous auction in July.

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 August 4. [Reuters]

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