ECONOMY

Greece rolls over 6-month T-bills, yield steady

greece-rolls-over-6-month-t-bills-yield-steady

Greece sold 1.137,5 billion euros ($1.24 billion) of six-month T-bills on Wednesday to refinance a maturing issue, keeping its public finances afloat.

Debt agency PDMA sold the new paper at a yield of 2.97 percent, unchanged from a previous sale last month.

In the rollover, T-bill holders – mostly banks – renew their positions instead of getting paid on the maturing paper they hold.

The sale's bid-cover ratio was 1.30, unchanged from the last sale. The amount raised included 263 million euros in non-competitive bids. [Reuters]