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Greece sold 1.3 billion euros in latest treasury bills auction

Xinhua, March 18, 2015 Adjust font size:

Greece sold 1.3 billion euros (1.38 billion US dollars) on Wednesday in its third treasury bills auction this month, the country's Public Debt Management Agency announced.

The 13-week bills auctioned fetched an interest rate of 2.7 percent, unchanged from a previous similar sale on March 11. The sale's bid cover ratio was 1.3.

Greece accepted also non-competitive bids up to 30 percent of the auction amount. The final settlement date for the Treasury bill auction is March 20.

As Athens faces the risk of running out of cash in coming weeks, Treasury bill auctions have become the key source of funding to meet Greece's financing needs this month.

International creditors requested concrete progress in reforms in coming weeks before releasing further loans tranches in April under the February 20 Eurogroup deal to extend a bailout agreement until June.

Greek Prime Minister Alexis Tsipras will meet top European figures on the sidelines of the EU leaders' council in Brussels on Thursday to raise help for Greece to overcome the country's deepening cash shortage. Enditem