Greece to Launch 12-Month Treasury Bill Auction

Greece will auction a 12-month Treasury bill issue next Wednesday, the first such auction to be held since April 2010.

The move is designed to gradually replace three-month T-bills in order to improve the yield curve in the Greek state securities market.

The Public Debt Management Organization, in an announcement released on Friday, said that the 12-month T-bill issue will be worth €625 million ($770 million).

The settlement date was set for Friday March 16, while the authority will accent non-competitive bids at a cut-off price of up to 30 percent of the asked sum after the auction.

(Source: AMNA)