Greece sells 6-month T-bills, yield edges up to 1.19pc

ATHENS: Greece sold 1.138 billion euros ($1.39 billion) of six-month T-bills on Wednesday to refinance a maturing issue, the country's debt agency PDMA said.

The T-bills were sold at a yield of 1.19 percent, up six basis points from a previous sale in January. The amount raised included 262.5 million euros in non-competitive bids.

The sale's bid-to-cover ratio was 1.81, down from 2.24 in the previous auction.

In a rollover T-bill holders renew their positions instead of getting paid on the maturing paper they hold. The settlement date of the new bills is March 2.