Greece raises 812.5 mln euros in treasury bill sale at increased cost

Greece raised 812.5 million euros (about 926 million U.S. dollars) in the latest treasury bill sale on Wednesday, at increased cost amid the renewed political uncertainty, according to the country's Public Debt Management Agency (PDMA).

Wednesday's sale was the first under the new Radical Left SYRIZA-led coalition government.

The six-month bills were sold at an interest rate of 2.75 percent, up from 2.3 percent in the previous similar auction in January. The sum will be used to roll over maturing issues.

Analysts in Athens attributed the increased cost to the prevailing uncertainty over the new government's economic policy and the result of renegotiations with Greece's creditors on the management of the debt crisis.

Shut out of international markets since the start of the debt crisis in late 2009, Greece depends on multi-billion rescue loans from the European Union and the International Monetary Fund to stay afloat and restore growth.

In parallel with the international bailout aid, Athens runs a monthly auction program of short-term treasury bills to secure supplementary funds.

This auction program covers the country's needs at the moment, while the last review of the Greek stability and growth program under bailout deals with lenders is pending since late 2014 due to political developments in the country. Endit