Greece sells 3-month treasury bills at 9-year low interest rate

Greece sold on Wednesday 812.5 million euros (975 million U.S. dollars) of three-month treasury bills at 0.99 percent interest rate, the Greek Public Debt Management Agency said.

In the previous similar auction in December, the yield stood at 1.6 percent.

The Greek state had not sold 3-month treasury bills at interest rate lower that one percent since November 2009, when the Greek debt crisis broke out, noted local financial newspapers such as “Naftemporiki” (Shipping News).

Shut out of international markets since 2010, Greece runs a monthly treasury bill auction program to cover maturing debts and meet its financing needs, in parallel to the bailout program.

The debt-ridden country is expected to fully return to the markets this year when the current third bailout program ends.
Source: Xinhua

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