ATHENS, March 5 (Reuters) - Greece sold 1.138 billion euros ($1.48 billion) of six-month T-bills on Tuesday to roll over a previous issue that comes due on March 8, its debt agency (PDMA) said.
The T-bills were priced to yield 4.25 percent, two basis points below a previous Feb. 5 auction. The sale’s bid-cover ratio was 1.64, down from 1.68 in the previous auction.
The amount raised included 262.5 million euros in non-competitive bids.
Greek banks traditionally buy the bulk of T-bill issues, meaning funding costs do not fully reflect the strains from the country’s debt crisis. Banks can deposit the bills as collateral with Greece’s central bank to receive funding.