Greece sells 1.138 bln euros of three-months T-bills, yield drops

Greece sold 1.138 billion euros of three-month T-bills on Wednesday to refinance maturing issues, the country's debt agency PDMA said.

The three-month paper was sold at a yield of 1.80 percent, down five basis points from 1.85 percent in a previous sale last month.

The amount raised included 262.5 million euros in non-competitive bids.

The sale's bid-to-cover ratio was 1.81.

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 November 10.

[Reuters]