Greece to auction 625 mln euros of 3-month T-bills on Wednesday


Greece will sell 625 million euros ($710.13 million) of three-month Treasury bills on October 14 to refinance a maturing issue, debt agency PDMA said on Friday.

Athens successfully refinanced three-month paper last month. The bills were priced to yield 2.70 percent, unchanged from a previous sale.

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

The settlement date of the new bills will be October 16. Only primary dealers will be allowed to participate and no commission is to be paid.