Greece to auction 12-month T-bill next week, in first such auction since April 2010

Greece will auction a 12-month Treasury bill issue next Wednesday, the first such auction to be held since April 2010, in a move 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 euros. Settlement date was set for Friday 16 March, while the authority will accent non-competitive bids at a cut-off price up to 30 pct of the asked sum after the auction.