Greece sells 1.3 billion euros of three-month T-bills

Greece sold 1.3 billion euros of three-month treasury bills on Tuesday to roll over a maturing issue, the country’s debt agency PDMA said.

The T-bills were priced to yield 1.75 percent, unchanged from a previous sale in July but still the lowest funding cost since January 2010, when the debt agency sold three-month treasury paper at 1.67 percent.

The sale’s bid-cover ratio was 2.61, up from 2.35 in the previous sale.

The amount raised included 300 million euros in non-competitive bids.

The settlement date for Tuesday’s auction will be August 18.

Athens has a stock of about 15 billion euros of T-bills.