Greece to auction T-bills on July 15 as scheduled despite bank woes

ATHENS: Greece will sell 625 million euros of three-month Treasury bills on July 15 to refinance a maturing issue, its debt agency said on Friday, its second roll over this month amid uncertainty whether banks will reopen next week.

Cash-strapped Athens successfully rolled over six-month paper earlier this week, managing to keep its public finances afloat as the leftwing government negotiates a last-minute deal with creditors.

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

The settlement date of the new T-bills will be July 17. Only primary dealers will be allowed to participate and no commission is to be paid.