Greece Sells 812 Mln Euro of 6-mo T-bills, Yield Falls

Greece Sells 812 Mln Euro of 6-mo T-bills, Yield Falls

Greece sold 812.5 million euro ($1.10 billion) of six-month treasury bills on Tuesday to roll over a maturing issue, Reuters reported, quoting the country's debt agency PDMA.

The T-bills were priced to yield 4.0%, down from 4.10% in a January auction, the news agency reported. The sale's bid-cover ratio was 2.31, up from 2.07 in the previous sale.

The amount raised included 187.5 million euro in non-competitive bids. The settlement date for Tuesday's auction will be February 7.

Greece has a stock of about 15 billion euro of T-bills, which it regularly refinances with the help of Greek banks which buy and then deposit them as collateral to draw liquidity from the ECB, the news agency noted.

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