Greece sells six-month T-bills, yield falls to 2.4 pct

Greece sold 1.138 billion euros ($1.36 billion) of six-month T-bills on Wednesday to refinance a maturing issue, the country’s debt agency PDMA said.

The paper was sold at a yield of 2.40 percent, down 10 basis points from a previous sale earlier this month. The amount raised included 262.5 million euros in non-competitive bids.

The sale’s bid-to-cover ratio was 1.39, down from 1.86 in the previous auction.

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 September 1.

[Reuters]