Greece to sell 1 bln euros of 3-month T-bills on May 13

Greece will auction 1.0 billion euros ($1.38 billion) of three-month treasury bills on May 13 to refinance a maturing issue, the country’s debt agency PDMA said on Friday.

Athens has a stock of about 15 billion euros of T-bills that it regularly refinances. Last month Greece sold three-month treasury paper at 2.45 per cent, the lowest funding cost since January 20101.

The settlement date will be May 16. Only primary dealers will be allowed to participate and no commission will be paid.