Greece to sell 1 bln euro of 3-month T-bills on Dec 18-debt agency

ATHENS Fri Dec 14, 2012 7:16am EST

ATHENS Dec 14 (Reuters) - Greece will auction 1 billion euros of three-month treasury bills on Dec. 18 to refinance a maturing issue, the country's debt agency PDMA said on Friday.

The settlement date is Dec 21. Only primary dealers will be allowed to participate and no commission will be paid.

Monthly T-bill sales are Greece's sole remaining source of market funding. Greek banks buy the bulk of the issues and deposit them as collateral to draw liquidity from the central bank.

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