October 8, 2013 / 9:22 AM / 4 years ago

Greece sells 1.3 bln euros of 6-month T-bills, yield down

ATHENS, Oct 8 (Reuters) - Greece sold 1.3 billion euros ($ billion) of six-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 4.15 percent, slightly down from 4.20 percent in a September auction. The sale’s bid-cover ratio was 2.04, up from 1.89 in the previous sale.

The amount raised included 300 million euros in non-competitive bids. The settlement date for Tuesday’s auction will be October 11.

Monthly T-bill sales are Greece’s sole remaining source of market funding. Athens has a stock of about 15 billion euros 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.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below