Greece sells ?4.4 billion-worth of short term debt as it awaits bailout payment
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Greece has raised €4.4 billion ($5.7 billion) in two short-term debt auctions, needed to plug gaps as the country awaits a long-delayed rescue loan payment.
The debt management agency said Tuesday it took €2.76 billion from one-month Treasury bills — an unusually short-term issue which Greece has resorted to twice in as many months.
The yield was slightly higher than in last month's auction, reaching 3.99 percent compared to 3.95 percent.
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Greece also raised €1.62 billion in six-month T-bills, whose yield declined to 4.38 percent from 4.41 percent in November.
Later Tuesday, the deadline expires for private investors to participate in a bond buyback hoped to shave some €20 billion off Greece's debt load. If successful, the deal will allow smooth disbursement of an international bailout payment on Thursday.