November 13, 2012 / 10:36 AM / 5 years ago

Greece sells 4.06 bln eur T-bills into rollover

ATHENS, Nov 13 (Reuters) - Greece sold 4.06 billion euros ($5.16 billion) of one- and three-month treasury bills on Tuesday to roll over a 5.0 billion euro issue that comes due Nov. 16, its debt agency (PDMA) said.

PDMA sold 2.762 billion euros of one-month T-bills priced to yield 3.95 percent and 1.3 billion of three-month paper at 4.2 percent, four basis points below a previous sale in October.

The three-month auction’s bid-cover ratio was 1.66, down from 1.90 in the Oct. 16 sale.

While Tuesday’s auction is insufficient to redeem the 5 billion in T-bills coming due on Friday, it will be supplemented by the sale of more paper through non-competitive bids over the next two days.

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