Greece to auction 1 bln euros of T-bills on Nov. 6

Greece will auction 1.0 billion euros of six-month T-bills on Nov. 6 to refinance a 1.6 billion euro maturing issue, the country’s debt agency PDMA said on Friday.

The settlement date will be Nov. 9. 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.