ECONOMY

Greece to issue more treasury bills on Tuesday

Greece will auction 1 billion euros of three-month treasury bills on Tuesday to refinance a maturing issue, the country’s debt agency (PDMA) said on Friday.

The settlement date will be June 21.

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. Greek banks buy the bulk of the issues and deposit them as collateral to draw liquidity from the central bank.

[Reuters]