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Greece sells T-bills as bailout delayed
Source: Bloomberg News |
November 14, 2012, Wednesday
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Print Edition
Print Edition
GREECE sold 4.06 billion euros (US$5.15 billion) of Treasury bills as euro-area finance chiefs delayed paying the nation's next bailout tranche, leaving it needing to roll over securities that mature on November 16.
Greece sold 1.3 billion euros of 13-week bills to yield 4.2 percent, down from 4.24 percent at the previous auction on October 16, and 2.76 billion euros of four-week bills to yield 3.95 percent. Investors requested 1.66 times the amount of 13-week bills sold, compared with 1.9 times previously. The so-called bid-to-cover ratio was 1.3 times for the four-week bills, the Athens-based Public Debt Management Agency said.
Second-day bids today may bring the total sold to 5 billion euros, the amount of a 13-week bill redemption that Greece is due to meet on November 16.
Greece sold 1.3 billion euros of 13-week bills to yield 4.2 percent, down from 4.24 percent at the previous auction on October 16, and 2.76 billion euros of four-week bills to yield 3.95 percent. Investors requested 1.66 times the amount of 13-week bills sold, compared with 1.9 times previously. The so-called bid-to-cover ratio was 1.3 times for the four-week bills, the Athens-based Public Debt Management Agency said.
Second-day bids today may bring the total sold to 5 billion euros, the amount of a 13-week bill redemption that Greece is due to meet on November 16.
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