Improved yield in T-bill auction

Greece raised 1.14 billion euros on Tuesday in a 26-week treasury bills sale, according to the country’s Public Debt Management Agency (PDMA).

The treasury bills were sold at 0.46 percent yield, down from 0.58 percent from the previous similar auction conducted on April 3 this year, the emailed PDMA press release said.

Debt-ridden Greece was shut out of international markets in 2010. Since then PDMA has been selling mainly three-month and six-month T-bills each month to cover the country’s financing needs, in parallel with the Greek bailout programs. [Xinhua]