Greece to sell 3.125 bln euros in T-bills on Nov. 13

Greece will auction 1 billion euros of three-month treasury bills and 2.125 billion euros of four-week bills on Nov. 13 to refinance a maturing issue, the country’s debt agency PDMA said on Friday.

The settlement date is Nov. 16. 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.