Greece to issue 1 bln eur 3-month T-bills on Tuesday

Greece will auction 1.0 billion euros ($1.3 billion) of three-month treasury bills on March 19 to roll over maturing debt, the country’s debt agency PDMA said on Friday.

The settlement date will be March 22. 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.