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Greece pays lower rates in short-term debt sale

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(Globalpost/GlobalPost)

Greece on Tuesday raised 1.138 billion euros ($1.5 bn) in six-month treasury bills, paying a slightly reduced rate of 4.25 percent, the public debt management agency said.

"Total bids reached 1.438 billion euros and the amount finally accepted was 1.1375 billion," the agency said in a statement, with the rate paid to investors narrowly down from the 4.27 percent at the last similar sale.

At the previous auction of six-month treasury bills on February 5, Greece had raised 812.5 million euros.

Shut out of the long-term debt markets since 2010, Greece is relying on international rescue loans for its economic survival and regularly issues short-term debt.

Representatives from the so-called troika of Greece's creditors -- the European Union, the European Central Bank and the International Monetary Fund -- are currently in Athens.

The visit is part of regular efforts to review the country's progress in meeting its bailout obligations, before unlocking another tranche from the rescue loans.

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http://www.globalpost.com/dispatch/news/afp/130305/greece-pays-lower-rates-short-term-debt-sale