ATHENS, Greece (AP) — Cash-strapped Greece managed to pay off its creditors yesterday — warding off bankruptcy in the nick of time — by using billions of euros from the EU-led rescue package aimed at containing the debt crisis.

Finance ministry sources said the government redeemed 8.5 billion euros ($10.43 billion) in expiring 10-year state bonds, which it was unable to raise without outside assistance as wary investors have sent Greek borrowing costs sky-high.

Just a day earlier, the country had received 14.5 billion euros ($18 billion) from 10 of the other 15 European Union countries that use the euro.