Greece sells 3-month T-bills, yield drops to 0.79pc

ATHENS: Greece sold 813 million euros ($1.01 billion) of three-month treasury bills to refinance a maturing issue at a lower yield compared to a previous sale last month, the country's debt agency PDMA said on Wednesday.

The debt agency sold the new paper at a yield of 0.79 percent, down 26 basis points from 1.05 percent in a previous sale in March. The amount raised included 187.5 million euros in non-competitive bids.

The sale's bid-to-cover ratio was 2.81, up from 1.56 in the previous auction. Settlement date is April 13.