Greece Raises euro 8 billion ( $ 11.3 billion) of bonds at premium yields

Greece sold 8 billion euros ($11.3 billion) of bonds at premium yields to ensure the country’s first debt issue since being downgraded was a success.

The five-year securities yield 6.2 percent, the Greek ministry of finance said late yesterday in an e-mailed statement. The ministry said it received 25 billion euros in orders, after offering 0.3 percentage point more yield than on the nation’s existing debt with similar maturities.

Prime Minister George Papandreou’s government is struggling to reduce a budget deficit of 12.7 percent of gross domestic product and needs to sell 53 billion euros of debt this year, the equivalent of about 20 percent of GDP.

For more: Greece Raises euro 8 Billion Offering ‘Generous’ Terms (Update1) - Bloomberg.com