Greece mulls rolling over T-bills due to aid delay

Greece is considering rolling over 5 billion euros in treasury bills when they mature on Nov. 16 because it does not expect to receive the next tranche of its international bailout until later this month, finance ministry officials said on Friday.

“We are examining the rollover of 5 billion euros in treasury bills because of a delay in the installment from lenders,» said one of the officials, who wished not be named.

Greece does not have the cash to redeem the bills outright. In August, Athens increased the size of its monthly T-bill auction after the ECB agreed to raise the ceiling on the amount of such bills the Bank of Greece can accept as collateral in exchange for emergency loans.

Source: Ekathimerini.com