Greece will auction 875 million euros ($1.14 billion) of six-month treasury bills on March 5 to roll over maturing debt, the country’s debt agency PDMA said on Friday.
The settlement date will be March 8. 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]