Greece received an additional 937.5 million euros in bids for Treasury bills, bringing the total raised this week to almost 5 billion euros ($6.4 billion) and enabling the nation to roll over debt that matures tomorrow.
The Athens-based Public Debt Management Agency received 300 million euros of second-day bids for the 13-week bills and 637.5 million euros for the four-week bills, it said on its website today. That’s on top of the 4.06 billion euros of securities sold on Nov. 13, after euro-area finance chiefs delayed paying the nation’s next bailout tranche.
European Union officials this week called for a Nov. 20 special meeting of finance ministers to make a “definite decision” on releasing the next set of loans due to Greece, worth 31.5 billion euros. The payment has been frozen since June as Prime Minister Antonis Samaras’s coalition government and its creditors haggled over austerity measures linked to the bailout.
Greece has a 13-week bill redemption tomorrow. It sold those securities in August, to cover the cost of redeeming government bonds held by the European Central Bank.
The 1.3 billion euros of 13-week bills auctioned earlier this week yielded 4.2 percent, down from 4.24 percent at the previous offering on Oct. 16, according to the PDMA. The four- week bills yielded 3.95 percent.
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