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Greek bill auction raises 4 billion euros

08-15-2012 04:47 BJT

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There’s more reassuring news from Greece after the Government successfully raised more than four billion Euros. albeit at a slightly higher rate of interest, to help repay its loans.

The Greek Public Debt Management Agency says the bill auction raised 4.06 billion euros (5.01 billion U.S. dollars), in the largest sale of its kind since the start of the Greek debt crisis in 2009.

They attracted a slightly higher interest rate of 4.43 percent compared to 4.28 percent in a similar auction on July 17. The funds raised on Tuesday will be used to repay a 3.2 billion euro bond due on August 20.

Over the past two years, Greece has aimed to reduce its short-term funding in the context of its monthly treasury bills auction program.

Greek officials targeted a bigger sum this time to cover immediate financing needs, as the country awaits a delayed tranche of bailout loans from international creditors in autumn.

 

Editor:Zheng Limin |Source: CCTV.com

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