Greece raises 1.3 billion euros from T-bills

Greece raises 1.3 billion euros in T-bill auction after getting new batch of rescue loans

Associated Press

ATHENS, Greece (AP) -- Greece has raised 1.3 billion euros ($1.69 billion) in a treasury bill auction held after the country's bailout lenders approved the payment of a new batch of rescue loans.

The Public Debt Management Agency said the 13-week loans were auctioned Tuesday at an interest rate of 4.02 percent, roughly unchanged from a T-bill sale last month.

Eurozone finance ministers in Brussels late Monday approved the next batch of 7.5 billion euros ($10 billion) in loans to Greece, citing progress in the country's deficit cutting program.

Greece, weighed down by massive debts, lost access to bond markets in 2010. The conservative-led government hopes to have the country return to bond markets in the first six months of 2014, as the economy emerges from a crippling recession.

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