ECONOMY

Greece to auction 625 mln eur six-month T-bills on Aug 6

Greece will auction 625 million euros ($828 million) of six-month treasury bills on August 6 to roll over maturing debt, the country’s debt agency (PDMA) said on Friday.

Monthly T-bill sales are Greece’s sole remaining source of market funding.

Athens has a stock of about 15 billion euros of T-bills, which it regularly refinances with the help of crisis-struck Greek banks which buy and then deposit them as collateral to draw liquidity from the ECB.

The settlement date for Tuesday’s auction will be Aug 9. Only primary dealers will be allowed to participate and no commission will be paid. [Reuters]