ECONOMY

Greek PDMA raises 2.93 bln, T-bill yields inch higher

Greece sold 1.3 billion euros of three-month treasury bills on Wednesday in addition to 1.63 billion euros raised from its regular monthly auction, the Public Debt Management Agency (PDMA) said.

The T-bills were priced to yield 1.80 percent, up slightly from a previous sale in November.

In October, Greece sold three-month treasury paper at 1.67 percent – the lowest funding cost since January 2010.

The sale’s bid-cover ratio was 1.32, down from 2.41 in the previous auction.

The amount raised included 262.5 million euros in non-competitive bids.

The settlement date for Wednesday’s auction will be Friday.

The country raised 1.63 billion euros from its regular monthly six-month treasury bills.

The paper was priced to yield 2.15 percent, up slightly from a previous sale in November.

The sale’s bid-cover ratio was 1.81, down from 2.09 in the previous sale.

Athens has a stock of about 15 billion euros of T-bills, which it regularly refinances.

[Reuters]