T-bill yield drops.

Kathimerini English - - Focus -

Greece sold 1.138 bil­lion euros of three-month Tbills yes­ter­day to re­fi­nance ma­tur­ing is­sues, the coun­try’s debt agency PDMA said. The three-month pa­per was sold at a yield of 1.95 per­cent, down from 2.33 in a pre­vi­ous sale last month. The amount raised in­cluded 262.5 mil­lion euros in non­com­pet­i­tive bids. The sale’s bid-to­cover ra­tio was 2.17, up from 1.85 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 Au­gust 11.

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