Greece raises 1.6 billion euros in T-bill sale

Greece says it has raised 1.625 billion euros ($2.07 billion) in the sale of 26-week treasury bills, at a marginally lower interest rate than a similar auction last month.

The country’s debt management agency said Tuesday’s sale was 2.8 times oversubscribed and carried a yield of 4.9 percent, marginally down from the 4.95 percent yield in the December auction. The country had originally been seeking to raise 1.250 billion euros.

Debt-crippled Greece relies on international rescue loans to keep solvent. Although unable to issue long-term debt due to incredibly high borrowing costs, it maintains a market presence through regular treasury bill auctions.

[Associated Press]

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.