Greece raises 4.062 billion euros to refinance debt due this Friday

FXStreet Team FXStreet

FXstreet.com (Barcelona) - The Greek Public Debt Management Agency held a bond auction on Tuesday in order to roll over 5 billion euros of debt maturing on November 16. It sold 4.062 billion euros worth of 1-month and 3-month T-bills and the total amount should reach 5 billion if all non-competitive bids are included.

1-month T-bills were sold at an average yield of 3.95%, while 3-month T-bills yielded 4.2%, compared to 4.24% seen in October.

The auction was given the green light by the ECB which had to raise the ceiling on the amount of T-bills so that Athens would be able to continue refinancing short-term debt.

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