BUSINESS

Greece sells 6-month T-bills, yield drops to 1.13 pct

TAGS: Economy

Greece sold 813 million euros ($1.01 billion) of six-month T-bills on Wednesday to refinance a maturing issue, the country's debt agency PDMA said.

The T-bills were sold at a yield of 1.13 percent, down 52 basis points from a previous sale in January. The amount raised included 187.5 million euros in non-competitive bids.

The sale's bid-to-cover ratio was 2.24, up from 1.77 in the previous auction.

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 February 2. [Reuters]

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