ECONOMY

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

greece-sells-812-5-mln-euros-of-3-month-t-bills-yield-steady

Greece sold 812.5 million euros ($927.14 million) of three-month T-bills to refinance a maturing issue, debt agency PDMA said on Wednesday.

The yield was 2.70 percent, unchanged from a previous sale last month. In the rollover, T-bill holders – mostly Greek banks – renew their positions instead of getting paid on the maturing paper they hold.

The sale's bid-to-cover ratio was 1.30, unchanged from the last sale. The amount raised included 188 million euros in non-competitive bids. Settlement will be on October 16. [Reuters]