Greece to auction 625mn euros of three-month T-bills on Jan. 10

ATHENS: Greece will sell 625 million euros ($753.13 million) of three-month treasury bills on January 10 to refinance a maturing issue, debt agency PDMA said on Friday.

Athens rolled over three-month T-bills last month, with the paper priced to yield 1.60 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 January 12. Only primary dealers will be allowed to participate and no commission is to be paid.

Primary dealers can submit non-competitive bids for up to an additional 30 percent of the auctioned amount until January 11, PDMA said.