Greece to auction 1.0bn euros of 3-month T-bills on Sept. 16

ATHENS: Greece will sell 1.0 billion euros ($1.13 billion) of three-month Treasury bills on Sept. 16 to refinance a maturing issue, debt agency PDMA said on Friday.

Athens successfully refinanced three-month paper earlier this week, managing to keep its public finances afloat as it heads for national elections on Sept. 20.

The bills were priced to yield 2.70 percent.

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

The settlement date of the new bills will be Sept. 18.

Only primary dealers will be allowed to participate and no commission is to be paid.