Greece sells 812.5 mln euros of 6-month T-bills, yield jumps

Written By Unknown on Rabu, 04 Februari 2015 | 18.12

ATHENS Wed Feb 4, 2015 5:11am EST

ATHENS Feb 4 (Reuters) - Greece sold 812.5 million euros ($932 million) of six-month Treasury bills on Wednesday to roll over a maturing issue, the country's debt agency PDMA said, its first sale since a new left-wing government was swept to power.

The T-bills were priced to yield 2.75 percent, up 45 basis points from a previous sale in January.

The sale's bid-cover ratio was 1.30, down from 1.58 in the previous sale.

The amount raised included 187.5 million euros in non-competitive bids. The settlement date for Wednesday's auction will be February 6.

Athens has a stock of about 15 billion euros of T-bills, which it regularly refinances.

The new government has said it plans to cover its funding needs with short-term paper issues until a new deal with its international lenders is reached despite having already reached a 15 billion euro limit on outstanding T-bills agreed with the EU and IMF "troika". (Reporting by George Georgiopoulos; Editing by Costas Pitas)


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