Greece raises 1.3 billion euros in T-Bill auction

AP News
Posted: Feb 12, 2013 7:20 AM

ATHENS, Greece (AP) — Greece has raised €1.3 billion ($1.74 billion) in a Treasury bill auction, with the interest rate paid on the three-month loan roughly unchanged from the last such auction.

The Public Debt Management Agency said the 13-week bonds were sold Tuesday at an interest rate of 4.05 percent, compared with 4.07 percent paid at a Jan. 15 auction.

Greece has been relying on emergency loans from other eurozone countries and the International Monetary Fund since losing access to long-term debt markets in 2010 but it has maintained a market presence with regular Treasury bill auctions.

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Tuesday's sale was oversubscribed 1.76 times.