UPDATE 1-Greece to issue 1.5 bln eur of 13-wk T-bills July 20

* Auction to roll over maturing debt

* Settlement date July 23

* Sale restricted to primary dealers

(Adds details)

ATHENS, July 16 (BestGrowthStock) – Greece will auction 1.5 billion
euros ($1.94 billion) of 13-week T-bills on July 20 to roll over
maturing paper, the country’s debt agency (PDMA) said on Friday.

The transaction marks the second time the country will tap
the market since securing a 110 billion euro EU/IMF emergency
loan package in May. The debt agency comfortably sold six-month
T-bills earlier this week but at a high yield of 4.65 percent.

Only primary dealers will be allowed to participate next
week and no commission will be paid, the agency said.

PDMA said non-competitive bids of up to 30 percent of the
auctioned amount can be submitted during the auction and another
30 percent until July 22.

Some 2.4 billion euros of three-month paper expires July 23.

The last time Greece sold 13-week T-bills, on April 20 this
year, the yield came to 3.65 percent and the auction’s cover
ratio was 4.6.
For further details please click on (GR/PDMA04: ).

(Reporting by George Georgiopoulos; editing by John
Stonestreet)

UPDATE 1-Greece to issue 1.5 bln eur of 13-wk T-bills July 20