Greece to auction 625mn euros of 3-month T-bills on Oct. 14

ATHENS: Greece will sell 625 million euros ($710.13 million) of three-month Treasury bills on Oct. 14 to refinance a maturing issue, debt agency PDMA said on Friday.

Athens successfully refinanced three-month paper last month.

The bills were priced to yield 2.70 percent, unchanged from a previous sale.

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 Oct. 16. Only primary dealers will be allowed to participate and no commission is to be paid.