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Greece Holds Productive 3-Month T-Bill Sale

Greece sold three-month T-bills today worth 813 million euros, to refinance a maturing matter.

The sale maintained the nation's public assets just before a critical parliamentary vote concerning austerity protocols, that is scheduled for later today. Greek debt firm PDMA sold the T-bills with a 2.70% yield, while 1.0 billion euros will mature on July 17th. This figure mirrors last month's sale.

During the rollover, T-bill owners, who are made up of mainly banks, reaffirm their stance instead of gaining revenues on their maturing paper. Greek banks have remained closed since June 29th; additional funding relies on the passing of reforms placed on the nation by its creditors, for a third bailout.

Today's sale held a 1.30 bid-cover ratio, which is unaltered from the previous one. The revenues generated encompass non-competitive bids worth 187.5 million euros. The settlement date is scheduled for July 17th.

(Source: Reuters)