Borrowing rate drops in T-bill auction

Greece raised 390 million euros in the auction of 26-week treasury bills on Tuesday at a lower interest rate than the previous sale.

The Public Debt Management Agency (PDMA) said the yield on the sale came in at 4.64 percent, versus 4.90 percent in the previous auction held on January 11. The amount in Tuesday?s auction was oversubscribed 4.54 times.

PDMA had originally been seeking to raise 300 million euros.