Greece sells 1.625 bln euros of 3-month T-bills, yield drops

Tue Jul 15, 2014 5:24am EDT

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ATHENS, July 15 (Reuters) - Greece sold 1.625 billion euros
($2.21 billion) of three-month treasury bills on Tuesday to roll
over a maturing issue, the country's debt agency PDMA said.
    The T-bills were priced to yield 1.75 percent, down five
basis points from 1.80 percent in a previous sale in June - the
lowest funding cost since January 2010 when the debt agency sold
three-month treasury paper at 1.67 percent.
    The sale's bid-cover ratio was 2.35, down from 2.99 in the
previous sale.
    The amount raised included 375 million euros in
non-competitive bids. The settlement date for Tuesday's auction
will be July 18. Athens has a stock of about 15 billion euros of
T-bills, which it regularly refinances.

 (Reporting by George Georgiopoulos)
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