July 12, 2017 / 9:45 AM / in 4 months

Greece sells three-month T-bills at lower yield

ATHENS, July 12 (Reuters) - Greece sold 812.5 million euros ($929.99 million) of three-month T-bills on Wednesday to refinance maturing issues, the country’s debt agency PDMA said.

The three-month paper was sold at a yield of 2.33 percent, down from 2.70 in a previous sale last month. The amount raised included 238 million euros in non-competitive bids.

The sale’s bid-to-cover ratio was 1.85, up from 1.30 in the previous sale.

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 July 14. (Reporting by Angeliki Koutantou)

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