Greece to auction 1bn euros of 3-month T-bills on Sept. 7

ATHENS: Greece will sell 1 billion euros ($1.12 billion) of three-month treasury bills on Sept. 7 to refinance a maturing issue, debt agency PDMA said on Friday.

Athens successfully rolled over three-month T-bills last month, with the paper priced to yield 2.7 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 bills will be Sept. 9. Only primary dealers will be allowed to participate and no commission is to be paid.