Greece to sell 3.125 bln euro 3-month T-bills Aug. 14
Aug 10 (Reuters) – Greece will auction 3.125 billion euros ($3.83 billion) of three-month T-bills on August 14 to fund the rollover of a previous issue and repay a 3.2 billion euro bond maturing on Aug. 20, the country’s debt agency PDMA said on Friday.
The settlement date will be August 17. Only primary dealers will be allowed to participate and no commission will be paid.
Monthly T-bill sales are Greece’s sole source of market funding.
While Greece has been shut out of the long-term debt markets since 2010, it has regularly issued short-term debt, although the Tuesday auction dwarfs previous placements. Greece raised 812.5 million euros on Tuesday in an auction of six-month treasury bills, paying a slightly lower rate of 4.68 percent. In its last three-month treasury bill sale, on July 17, Greece raised 1.625 billion euros at a slightly lower rate of 4.28 percent.