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Treasury Bill Sale Generates 1.3 Billion Euros

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Today, Greece sold 1.3 billion euros worth of six-month treasury bills, to roll over a maturing dispersion at the lowest monetary price, since the beginning of the financial crisis in January 2010.

The T-bills were set to yield 2.70%; a lower rate than April's auction that held 3.01%. The activity's bid-cover ratio was 2.65, compared to 3.10 in April.

The amount generated, held 300 million euros worth of non-competitive bids. May 9th marks the settlement date for today's auction. Athens contains an approximated 15 billion euro worth of T-bill assets.