Greece sells treasury bills raising $1.5bn

Greece held a new successful treasury bills sale on Tuesday, raising 1.138 billion euros (1.49 billion U.S. dollars), according to the Greek public debt management agency. Six-month treasury bills were sold at an interest rate of 4.25 percent, down from 4.27 percent secured in a previous auction in February. Greek officials said the amount raised on Tuesday will be used to cover an older bond issue which comes due on March 8. 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 International Monetary Fund to stay afloat and restore stability. In parallel with the international bailout aid, Athens runs monthly auction programs to meet its financing needs.