ECONOMY

Greece sells 812.5 mln euros of 3-month T-bills, yield steady

Greece sold 812.5 million euros ($1.03 billion) of three-month treasury bills on Wednesday to roll over a maturing issue, the country’s debt agency PDMA said.

The T-bills were priced to yield 1.70 percent, unchanged 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 2.48, down from 2.51 in the previous sale.

The amount raised included 187.5 million euros in non-competitive bids. The settlement date for Wednesday’s auction will be October 17. [Reuters]