DEBT-RIDDEN Greece is facing slightly higher borrowing costs as it sells 390 million euros (US$542.76 million) in 26-week treasury bills.

The country's debt management agency said yesterday's sale, originally for 300 million euros, was oversubscribed 5.15 times and had a yield of 4.82 percent.

A similar auction on October 12 for 900 million euros had been oversubscribed 4.22 times but had a slightly lower yield of 4.54 percent.

Greece began monthly short-term debt issues in September to maintain a presence in the market after its financial crisis effectively blocked it out of the long-term international debt market, with investors demanding prohibitively high interest rates for its bonds.