Saturday, October 10th18.5°C

Greek short-term borrowing costs tumble after return to bond market

ATHENS, Greece - Greece's borrowing costs in a short-term debt sale have tumbled, days after the country returned to the international bond markets.

The interest rate on a 13-week treasury bill issued Tuesday fell to 2.45 per cent, compared with 3.1 per cent for a similar issue last month, according to the public debt management agency.

Greece raised 1.625 billion euros ($2.25 billion) in Tuesday's sale, which was 2.73 times oversubscribed.

After being locked out of the international bond market for four years by excessively high interest rates, Greece sold its first five-year bond since 2010 last week. The auction was eight times oversubscribed, and the country raised 3 billion euros at a 4.95 per cent yield.

Athens has been relying on international bailout funds worth 240 billion euros since nearly going bankrupt in 2010.

The Canadian Press

Read more Business News


Recent Trending

Today's Market
S&P TSX13964.36-14.30
S&P CDNX552.26+5.20
S&P 5002014.89+1.46
CDN Dollar0.7723-0.0001
Natural Gas2.52+0.02

Okanagan Companies
Pacific Safety0.225-0.005
QHR Technologies Inc1.25+0.02
Metalex Ventures0.07+0.02
Russel Metals21.26-0.29
Copper Mountain Mining0.66+0.05
Colorado Resources0.07+0.00
ReliaBrand Inc0.0175+0.0009
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.075-0.005
Decisive Dividend Corp3.25+0.14
Diamcor Mining0.97+0.03



2337076833 McCurdy Road
4 bedrooms 3 baths
more details
Click here to feature your property
Please wait... loading

Income for life?

Photo: Thinkstock.comIn almost every conversation I have with clients these days, the topic swings to interest rates. What direction they’re going, how long will they stay where they are and how...

Perfect (reno'd) home

Photo: Thinkstock.comHow many times have you found a home in the perfect location, but it needs too much work as per the home inspection? There is a great program available through most lenders that w...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...


Member of BC Press Council