Greece to auction 2.25bn euros of T-bills on June 7

ATHENS: Greece will sell 2.25 billion euros ($2.52 billion) of three- and six-month treasury bills on June 7 to refinance maturing issues, debt agency PDMA said on Friday.

PDMA will auction 1.0 billion euros of three-month paper and 1.25 billion of six-month T-bills.

Athens rolled over three-month T-bills last month, with the paper priced to yield 2.70 percent.

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

The settlement date of the new T-bills will be June 9. Only primary dealers will be allowed to participate and no commission is to be paid.