Greece Says Raises 2.6 bn Euros in Lower-Cost Debt Sale
Greece raised 2.6 billion euros ($3.4 billion) on Tuesday in a double sale of short-term treasury bills that once again saw its cost of borrowing drop slightly.
The Greek state debt management agency said it had raised 1.625 billion euros with six-month bills and another 975 million euros with one-month bills.
The interest rate offered to lenders dipped in both cases, to 4.3 percent from 4.38 percent in the case of the six-month bills, and to 3.95 percent from 3.99 percent for the one-month issue.
In December, Greece had raised 1.3 billion euros in a three-month treasury bill auction at lower cost and with demand to spare after completing an EU-funded sovereign debt buy-back.
Uncertainty regarding Greece's economic future has abated after European Union leaders last month agreed to hand out 49.1 billion euros ($64.5 billion) in aid in return for more austerity measures.
Athens has already received 34.3 billion euros of this package and is poised to get another 9.2 billion euros at the end of this month if key fiscal reforms are carried out, followed by two more slices of 2.8 billion euros in February and March.
Source: Agence France Presse
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