Greece: ?3.1 bn T-Bill auction as bond looms

ATHENS, Greece (AP) ? Greek authorities are to auction ?3.125 billion ($3.83 billion) in short-term debt to help pay off a ?3.2 billion bond repayment due on Aug.20.

The country's Public Debt Management Agency announced Friday that the auction for 13-week T-bills would be held on Aug. 14. The decision allows Greece to avoid having to seek emergency funding on top of the bailout loans it receives from the Europe and International Monetary Fund.

The ?3.2 billion ($3.93 billion) bond that matures Aug. 20 is held by the European Central Bank.

Source: http://news.yahoo.com/greece-3-1-bn-t-bill-auction-bond-131444440--finance.html

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