ECONOMY

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

greece-to-sell-1-bln-euros-of-3-month-t-bills-on-wednesday

Greece will sell 1 billion euros of three-month treasury bills on Wednesday to refinance a maturing issue, the Public Debt Management Agency (PDMA) announced on Friday.

Athens successfully rolled over 2.925 billion euros of six-month and three-month securities on Wednesday.

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 next Friday.

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

[Reuters]