Greece to auction 875mn euros of three-month T-bills on Feb. 7

ATHENS: Greece will sell 875 million euros ($753.13 million) of three-month treasury bills on February 7 to refinance a maturing issue, debt agency PDMA said on Friday.

Athens rolled over three-month T-bills last month, with the paper priced to yield 0.99 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 T-bills will be February 9. Only primary dealers will be allowed to participate and no commission is to be paid.

Primary dealers can submit non-competitive bids for up to an additional 30 percent of the auctioned amount until February 8, PDMA said.