Greece to auction 1.0bn euros of 3-month T-bills on Sept. 9

ATHENS: Greece will sell 1.0 billion euros ($1.15 billion) of three-month Treasury bills on Sept. 9 to refinance a maturing issue, debt agency PDMA said on Friday.

Athens successfully refinanced three-month paper last month, managing to keep its public finances afloat as it heads for national elections on Sept. 20. The T-bills were priced to yield 2.70 percent.

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

The settlement date of the new T-bills will be Sept. 11. Only primary dealers will be allowed to participate and no commission is to be paid.