Greece will auction a three-month Treasury bills issue on Tuesday, Nov. 16, seeking to raise 300 million euros from the open markets.

The Public Debt Management Organisation, in an announce-ment, said settlement date for the issue will be Friday Nov. 19 (T+3), while the interest of the Treasury bills issue will be calculated with the time basis ACT/360. The auction will be held with competitive bids from the primary dealers of the Greek electronic secondary bond market. The organization will also accept non-competitive binds up to 30 pct of the issue. No commission will be paid.

Greece successfully auctioned a six-month T-bills issue last Tuesday, raising 390 million euros from the market, although at a higher interest rates.