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 announcement, 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 rate.