It would be the second such T-bill issue since the country's debt crisis broke out eight years ago.

The debt agency sold 12-month T-Bills in early March with the paper priced to yield 1.25 percent.

The settlement date of the new T-bills will be June 15. Only primary dealers will be allowed to participate and no commission will be paid.

Primary dealers can submit non-competitive bids for up to an additional 30 percent of the auctioned amount until June 14, PDMA said.