T-bill sale.

Greece will sell 875 million euros of three-month treasury bills on August 12 to refinance a maturing issue, debt agency PDMA said yesterday, its second rollover this month. Athens successfully refinanced six-month paper earlier this week, managing to keep its public finances afloat as the government negotiates a third bailout with its international creditors. In a rollover, T-bill holders – mostly banks – renew their positions instead of getting paid on the maturing paper they hold. The settlement date of the new T-bills will be August 14. Only primary dealers will be allowed to participate and no commission is to be paid.