Cost rises in short term debt auction; demand strong

The Public Debt Management Agency (PDMA) sold 1.625 billion euros of 6-month T-bills on Tuesday as the yield rose by 11 basis points compared to a previous auction.

The sale was well covered with the bid-cover ratio at 3.6 versus 4.54 in the previous auction.

The Greek government paid a yield of 4.75 percent, up from 4.64 percent in a February 8 auction, the debt agency said in statement.

Foreigners bought nearly a third of the issue, according to PDMA sources.