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Greece Holds 3 Month T-Bill Sale Worth 1.3 Billion Euros

Greece successfully sold three-month T-bills today, in the amount of 1.3 billion euros.

The sale assisted in the refinancing of a maturing concern, and kept the nation's finances intact, prior to upcoming national elections, set for September 20th. Debt firm PDMA sold the new T-bills with a 2.70% yield, that remained unaltered from August's sale.

The auction's bid-to-cover ratio mirrored last month's sale at 1.30. Revenues generated encompassed non-competitive bids, in the amount of 300 million euros. The settlement date for today's sale is scheduled for this Friday, September 11th. Friday also marks the maturation date for six-month T-bills worth 1.6 billion euros.

(Source: Reuters)