ECONOMY

Yield eases in fresh Greek T-bill sale

Greece sold 1.3 billion euros of three-month treasury bills on Tuesday to roll over a maturing issue, the Public Debt Management Agency said.

The T-bills were priced to yield 1.70 percent, down five basis points from a previous sale in August – 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 2.51, down from 2.61 in the previous sale.

The amount raised included 300 million euros in noncompetitive bids.

[Reuters]