Greece to sell 1 billion euros of 6-month T-bills on Oct 8

Greece will auction 1.0 billion euros ($1.359 billion) of six-month T-bills on October 8 to refinance a maturing issue, the country’s debt agency PDMA said on Friday.

Monthly T-bill sales are Greece’s sole remaining source of market funding. The settlement date will be October 11. Only primary dealers will be allowed to participate and no commission will be paid.

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