ECONOMY

Greece rolls over 3-month T-bills, yield steady

greece-rolls-over-3-month-t-bills-yield-steady

Greece sold 1.138 billion euros ($1.22 billion) of three-month T-bills to refinance a maturing issue, keeping its public finances afloat, debt agency PDMA said on Wednesday.

The debt agency sold the new paper at a yield of 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 262.5 million euros in non-competitive bids. Settlement will be on Nov. 13. [Reuters]