Greece to sell $1.2B in public debt next week

Greece will issue €900 million ($1.2 billion) in treasury bills next week, the debt management agency said Friday, as the country tries to regain investors' trust after financial woes left it essentially blocked out of the long-term international debt market.

The 13-week bills, part of regular monthly short-term debt auctions which began last month, will be issued on Oct. 19 and will have a settlement date of Oct. 22. Noncompetitive bids of up to 30 percent of the auction amount can also be submitted until noon on Oct. 21. On Tuesday, the country raised €1.17 billion ($1.63 billion) in a sale of six-month treasury bills that was both oversubscribed and saw a drop in borrowing costs. (AP)