ECONOMY

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

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

Greece sold 1.625 billion euros ($1.75 billion) of six-month T-bills to refinance a maturing issue, the country's debt agency PDMA said on Tuesday.

The debt agency sold the new paper at a yield of 2.97 percent, unchanged from a previous sale last month. The amount raised included 375 million euros in non-competitive bids.

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 a previous auction in December. Settlement will be on January 8.

[Reuters]