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Greece Holds Successful Three-Month T-Bill Sale

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Greece successfully sold 1.14 billion euros worth of three-month T-bills today, in efforts to refinance a maturing concern and to maintain the nation's public finances.

Greek debt firm PDMA offered the new T-bills with a 2.70% yield, which remains unaltered from last month's auction. August 14th marks the maturation date for today's sale.

Wednesday's bid-cover ratio for the sale marked 1.30, which also remained the same value as in July. Revenues generated held non-competitive bids worth 262.5 million euros, and have an August 14th settlement date.

(Source: Reuters)