ECONOMY

Greece sells 2.9 bln euros of T-bills, yields steady

greece-sells-2-9-bln-euros-of-t-bills-yields-steady

Greece sold 2.925 billion euros ($3.20 billion) of six-month and three-month T-bills to refinance maturing debt, the country's debt agency said on Wednesday.

It raised 1.625 billion euros from the new six-month securities at a yield of 2.97 percent and a bid-to-cover ratio of 1.30, unchanged compared to the previous sale.

The amount raised included 375 million euros in non-competitive bids.

Greece also sold 1.3 billion euros of three-month bills at a yield of 2.70 percent with the cover ratio at 1.30, also unchanged from a November sale.

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