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Greece Holds Positive T-Bill Auction

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Greece auctioned off 1.138 million euros ($1.28 billion) worth of three-month Treasury bills today.

The figure favorably spanned the whole amount the nation needed to generate. Wednesday's sale was the final of two, that were held this month to cover needed revenues. The nation has tapped native purchasers, whom covered necessary values, concerning international financier's dismissals to offer their own Greek t-bills.

Today's sale held a 2.70 yield, that mirrored April's sale, according to the Greek debt firm PDMA. It's bid-cover ratio marked 1.3%, that was also unaltered from last month. Non-competitive bids resulted in 262.5 million euros. May 15th marks the settlement date for Wednesday's T-bill activities.

(Source: Reuters)