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Greece raises 1.3 bn euros, rate steady

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(Globalpost/GlobalPost)

Greece on Tuesday raised 1.3 billion euros ($1.68 billion) in three-month treasury bills with a steady borrowing rate of 4.05 percent, the public debt management agency said.

"Total bids reached 1.655 billion euros and the amount finally accepted was 1.3 billion," the agency said in a statement.

At the previous auction of three-month treasury bills on February 12, Greece had also raised 1.3 billion euros at 4.05 percent interest.

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.

The disbursement of a loan slice of 2.8 billion euros set for March has been suspended owing to ongoing discussions with Greece's creditors -- the European Union, the European Central Bank and the International Monetary Fund.

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http://www.globalpost.com/dispatch/news/afp/130319/greece-raises-13-bn-euros-rate-steady