ATHENS, June 28 (Reuters) - Greece will proceed with the auction of T-bills in mid-July to cover maturing short-term debt, the country’s deputy finance minister told Reuters on Monday.
“Greece will go to the markets mid-July, issuing T-bills of three, six and twelve months,” Philippos Sachinidis said. Greek officials had previously said the country may proceed to an auction in July.
A total of 4.56 billion euros ($5.64 billion) of T-bills mature in July — 2.16 billion euros of one-year and six-month government paper comes due July 16 and another 2.4 billion of 13-week T-bills on July 23.
Greece can continue to issue T-bills during the 3-year, 110-billion euro emergency funding programme agreed with the European Union and the IMF last month. It is not expected to issue longer-term debt before 2012. (Reporting by Lefteris Papadimas; Writing by Ingrid Melander)