ECONOMY

Interest rate on Greek treasury bills eases

Greece sold 812.5 million euros of six-month treasury bills on Tuesday to fund the rollover of a 1-billion-euro issue that matures later this week at a slightly lower yield than at a previous auction in January.

Greece is also under pressure to conclude a bond swap deal with private bondholders that will make its debt more manageable.

At Tuesday?s auction, T-bills were priced to yield 4.86 percent versus 4.90 percent in a previous sale on January 10.

The bid-cover ratio was 2.72, down from 2.80 in January.

The sale included 187.5 million euros in noncompetitive bids.

The settlement date for yesterday?s T-bill sale will be Friday, debt agency PDMA said.

More noncompetitive bids of up to 187.5 million euros may be submitted by Thursday, which would bring total proceeds from the sale to 1 billion euros.

[Reuters]