Greece Raises EUR 1.3 B in Debt Sale
Greece has raised EUR 1.3 B in a three-month treasury bill auction with demand to spare, returning to short-term debt sales after completing an EU-funded debt buy-back last week.
"During the auction of EUR 1.0 B of 13-week treasury bills conducted today, the total bids reached 1.73 billion and the amount finally accepted was 1.3 billion," Greece's state debt management agency said in a statement quoted by international media. The sale offered a yield of 4.11% to lenders.
In the last three-month auction in November, the agency had raised EUR 1.3 B at an interest rate of 4.20%.
Greece last week attracted offers of EUR 31.9 B in a bond buy-back designed to alleviate its enormous sovereign debt by some EUR 20 B.
The scheme was a condition for the unblocking of pending EU-IMF loans, which had been held back since June owing to reform delays and a protracted electoral campaign in Greece that raised doubts about the future of its fiscal overhaul.
Because of the delay in receiving the EU-IMF funds, Greece had been forced to make emergency one-month debt auctions in November and earlier this month.
After EU leaders gave their approval last week, Greece is to receive EUR 34.3 B in scheduled bailout aid in December, and another EUR 14.8 W in the first quarter of next year.
The first seven billion was disbursed on Monday and another EUR 27.3 B is expected by Wednesday.
- » Kiev, Pro-Moscow Rebels Agree to Set Buffer Zone to Bolster Ceasefire
- » First French Air Strikes Against Islamic State Destroy Supply Depot
- » Russia Mulls Isolating Itself from Global Internet
- » UK Retains Commitment to Devolution after Scotland's 'No'
- » Serbia Cuts Pensions, Public Sector Salaries
- » Albania's Parliament Dismisses Central Bank Governor