Greece to auction 875 mln euros of three-month T-bills on Nov. 8

ATHENS: Greece will sell 875 million euros ($1.02 billion) of three-month treasury bills on November 8 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 1.85 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 November 10. 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 November 9, PDMA said.