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Greece borrows 812.5 mn euros, rate dips slightly

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(Globalpost/GlobalPost)

Greece raised 812.5 million euros ($1.0 billion) on Tuesday in six-month treasury bills, at a slightly reduced rate of 4.27 percent, the public debt management agency said.

"Total bids reached 1.053 million euros and the amount finally accepted was 812.5 million," the agency said in a statement, with the rate paid to investors down from the 4.3 percent at the previous six-month treasury bill auction.

In January, Greece had raised an overall of 2.6 billion euros ($3.5 billion) in a double sale, namely 1.625 billion euros in six-month bills and another 975 million euros in one-month bills.

The heavily indebted country, that has been shut out of the long-term debt markets since 2010 and is relying on international rescue loans for its economic survival, regularly issues short-term debt.

Uncertainty over Greece's future has eased after European Union leaders agreed in December to give Greece 49.1 billion euros ($66 billion) in return for additional austerity measures, that have caused widespread protests.

Representatives from Greece's European Union, International Monetary Fund and European Central Bank creditors are expected in Athens at the end of February to assess the country's progress in the implementation of reforms that are part of its bailout deal.

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http://www.globalpost.com/dispatch/news/afp/130205/greece-borrows-8125-mn-euros-rate-dips-slightly