Greece sells 1.3bn euros of 6-month T-bills, yield falls

ATHENS: Greece sold 1.3 billion euros ($1.79 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 3.01 percent, down from 3.60 percent in a March auction.

The sale's bid-cover ratio was 3.10, up from 2.31 in the previous sale.

The amount raised included 300 million euros in non-competitive bids.

The settlement date for Tuesday's auction will be April 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.