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    Greece raises $1.7 billion in T-Bill auction

    Associated Press – Tue, Sep 18, 2012

    ATHENS, Greece (AP) — Greece has raised €1.3 billion ($1.7 billion) in a treasury bill auction, with rate for the 13-week loans easing slightly to 4.31 percent.

    The government's Public Debt Management Agency said Tuesday's sale of €1 billion in debt was oversubscribed 1.98 times, and the additional €300 million was raised in non-competitive bids.

    The interest rate eased from 4.43 percent set at a T-Bill auction last month.

    Debt-strapped Greece is negotiating a major new austerity package worth more than €11.5 billion ($15.1 billion) with its rescue lenders. The measures are a requirement for continued emergency loan payments.

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