ECONOMY

Greek T-bill sale on Wednesday

greek-t-bill-sale-on-wednesday

Greece will sell 875 million euros of three-month treasury bills on August 12 to refinance a maturing issue, debt agency PDMA said on Friday, its second rollover this month.

Athens successfully refinanced six-month paper earlier this week, managing to keep its public finances afloat as the government negotiates a third bailout with its international creditors.

In a rollover, T-bill holders – mostly banks – renew their positions instead of getting paid on the maturing paper they hold.

The settlement date of the new T-bills will be August 14.

Only primary dealers will be allowed to participate and no commission is to be paid.

[Reuters]