Greece to auction 875mn euros of 6-month T-bills on May 2

ATHENS: Greece will sell 875 million euros of six-month treasury bills on May 2 to refinance a maturing issue, debt agency PDMA said on Friday.

Athens rolled over six-month T-bills last month, with the paper priced to yield of 1.07 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 May 4. 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 May 3, PDMA said.