Greece sold EUR390mn of six-month treasury bills, during an auction of EUR300mn on Tuesday, according to a Greek debt agency report.
The total bids reached EUR1,363mn, with the yield dropping by 26 basis points compared to a previous January auction.
The sale was well covered with the bid-cover ratio at 4.54 versus 3.4 in the previous auction. Greece paid a yield of 4.64%, down from 4.90% in the January 11 auction, Greece΄s Public Debt Management Agency said.
Its head, Petros Christodoulou, said that 80% of the take-up came from foreign investors, according to Dow Jones Newswires.
“This is another positive signal for Greece’s ability to borrow from markets for a second month in a row,” Christodoulou told the news agency.
“It was a small amount on offer, so I don’t draw a major conclusion, but still the 80% uptake again by foreigners is encouraging,” Christodoulou added.
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