Greece to sell 1bn euros of 3-month T-bills on Dec. 16

ATHENS: Greece will sell 1.0 billion euros ($1.10 billion) of three-month Treasury bills on Dec. 16 to refinance a maturing issue, debt agency PDMA said on Friday.

Athens successfully rolled over 2.925 billion euros ($3.20 billion) of six-month and three-month securities on Wednesday.

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 Dec. 18. Only primary dealers will be allowed to participate and no commission is to be paid.