Greece pays lower rates in short-term debt sale

Athens: Greece on Tuesday raised €1.138 billion ($1.5 bn) in six-month treasury bills, paying a slightly reduced rate of 4.25%, the public debt management agency said.

“Total bids reached €1.438 billion and the amount finally accepted was €1.1375 billion,” the agency said in a statement, with the rate paid to investors narrowly down from the 4.27% at the last similar sale.

At the previous auction of six-month treasury bills on 5 February, Greece had raised €812.5 million.

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.

Representatives from the so-called troika of Greece’s creditors—the European Union, the European Central Bank and the International Monetary Fund—are currently in Athens.

The visit is part of regular efforts to review the country’s progress in meeting its bailout obligations, before unlocking another tranche from the rescue loans.