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Greece sells six-month T-bills at lower interest rate

Greek authorities on Wednesday successfully auctioned a six-month Treasury bill issue raising 812.5 million euros from the market at a lower cost.

The interest rate of the issue fell to 2.5 pct from 2.78 pct in the previous auction of same issue last month. Bids submitted were 1.86 times more than the asked price, exceeding an 1.3 times oversubscription rate in the previous auction.
Greek notes' interest rates began falling in early July when Greek authorities auctioned a six-month rate at an interest rate of 2.78 pct frm 2.97 pct in the previous auction. The three-month interest rates fell to 2.33 pct last month from 2.7 pct in June.