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Greece Holds Successful Bond Sale

In its first bond sale since the bail-out in May, Greece was able to raise 1.25bn euros (£1.05bn; $1.58bn) in new funds. The offer was oversubscribed, with bids totalling 3.6bn euros. The terms of the bonds require Greece to repay the loans in three months, at a return rate of 4.65%.

It is worth noting however, that payments are on condition that Greece slashes public spending and boosts tax revenue.

Source: BBC News [1]

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Scott Boyd

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