ECONOMY

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

Greece sold 812.5 million euros ($959 million) 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 2.15 percent, up 25 basis points from a previous sale last month.

The sale’s bid-cover ratio was 1.78, down from 1.93 in the previous sale.

The amount raised included 187.5 million euros in non-competitive bids. The settlement date for Wednesday’s auction is January 16.

Athens has a stock of about 15 billion euros of T-bills, which it regularly refinances with the help of Greek banks. The country has already reached the upper limit for these debt instruments set by the international lenders funding its bailout — its euro zone partners and the International Monetary Fund. [Reuters]