BUSINESS

Greece sells 3-month T-bills at negative yield

TAGS: Finance

Greece sold 488 million euros ($535.82 million) of three-month treasury bills to refinance a maturing issue with the yield turning negative for the first time ever, the country's debt agency PDMA said on Wednesday.

The debt agency sold the new paper at a yield of -0.02 percent, down from 0.095 percent, in a previous sale in August.

The amount raised included 112.5 million euros in non-competitive bids.

The sale's bid-to-cover ratio was 2.71, up from 1.59 in the previous auction. Settlement date is on October 11. [Reuters]

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