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September 25, 2017

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Greece raises 1.3 bil. euros in 6-month bills

ATHENS --- Greece on Tuesday raised 1.3 billion euros (US$1.7 billion) in an auction of six-month treasury bills at a slightly reduced rate of 4.46 percent, the public debt management agency said.

"Total bids reached 1.6 billion euros and the amount finally accepted was 1.3 billion," the agency said in a statement, with the rate down from 4.54 percent at the previous auction of six-month bills in September.

The last equivalent sale on Sept. 4 had raised 1.14 billion euros with the interest rate dipping to 4.54 percent, from 4.68 percent a month earlier.

Greece relies on EU-IMF rescue loans for its economic survival after having been shut out of the long-term debt markets since 2010. However Greece, which faces a fifth year of continuous recession, regularly issues short-term debt.

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