Greece raises 1.3 bln euros in six-month treasury bills sale

Greece raised 1.3 billion euros (1.79 billion U.S. dollars) during a new six-month treasury bills auction, the Greek Public Debt Management Agency (PDMA) in Athens announced on Tuesday. The 26-week treasury bills were sold at an interest rate of 4.89 percent, slightly higher than the rate of 4.86 percent in a sale on Oct. 11 which raised the same amount. The PDMA officials initially sought to raise one billion euros (1.378 billion dollars), but the demand was higher. Tuesday's auction was held as the debt-laden country is gripped by a political crisis. The marathon talks launched on Sunday between Prime Minister George Papandreou and the main opposition party leader Antonis Samaras over the creation of a new coalition government are expected to wind up later on Tuesday. Greece launched a monthly treasury bills sales program to raise funds along the multi-billion euro aid secured in May 2010 from the European Union (EU) and the International Monetary Fund (IMF) to cover short-term financial needs.