The three-month paper was sold at a yield of 2.70 percent, unchanged from a previous sale last month. The amount raised included 300 million euros in non-competitive bids.

The sale's bid-to-cover ratio was 1.30, lower than 1.61 in the previous auction. the debt agency also sold 1.625 billion euros of six month T-bills at a steady yield of 2.97 percent.

The amount raised included 375 million euros in non-competitive bids. The bid-cover ratio was 1.30.

In a rollover T-bill holders renew their positions instead of getting paid on the maturing paper they hold. The settlement date of the new bills is June 9.