Greece sells 6-month T-bills, yield drops to 0.25%

ATHENS- Greece sold 1.3 billion euros ($1.46 billion) of six-month treasury bills to refinance a maturing issue, its debt agency PDMA said on Wednesday.

The debt agency sold the new paper at a yield of 0.25%, down 11 basis points from a previous sale in April. The amount raised included 300 million euros in non-competitive bids.

The sale's bid-to-cover ratio was 2.31, up from 1.67 in the previous auction. Settlement date is on June 5.

($1 = 0.8917 euros)

(Reporting by George Georgiopoulos) ((george.georgiopoulos@thomsonreuters.com; +30210 337 6437; Reuters Messaging: george.georgiopoulos.thomsonreuters.com@reuters.net))