ECONOMY

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

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

Greece sold 1.3 billion euros ($1.38 billion) of three-month T-bills to refinance a maturing issue, the country's debt agency PDMA said on Wednesday.

The three-month paper was sold at a yield of 2.70 percent, unchanged from a previous sale earlier this month. The amount raised included 300 million euros in non-competitive bids.

The sale's bid-to-cover ratio was 1.30, unchanged from the previous auction on March 8.

In a rollover T-bill holders renew their positions instead of getting paid on the maturing paper they hold. The settlement date of the new bills is March 17. [Reuters]