Greece to auction 1.25 billion euros in T-bills on Jan. 7

Greece will auction 1.25 billion euros ($1.71 billion) of six-month treasury bills on January 7 to refinance a maturing issue, the country's debt agency PDMA said on Friday.

The settlement date will be January 10.

Only primary dealers will be allowed to participate and no commission will be paid.

Monthly T-bill sales are Greece's sole remaining source of market funding. Athens has a stock of about 15 billion euros of T-bills that it regularly refinances with the help of crisis-struck Greek banks.