Markets

Greece rolls over 6-month T-bills, yield steady

Published September 2, 2015 Updated September 2, 2015 12:27pm

1 min

By Shoaib Ur Rehman

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ATHENS: Greece sold 1.138 billion euros ($1.28 billion) of six-month T-bills on Wednesday to refinance a maturing issue, keeping its public finances afloat as it heads for elections on Sept. 20.

With 1.4 billion euros of six-month paper maturing on Sept. 4, debt agency PDMA sold the new paper at a yield of 2.97 percent, unchanged from a previous sale last month.

In the rollover, T-bill holders - mostly banks - renew their positions instead of getting paid on the maturing paper they hold.

The sale's bid-cover ratio was 1.30, unchanged from the last sale.

The amount raised included 262.5 million euros in non-competitive bids. Settlement will be on Sept 4.

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