The National Treasury Management Agency is taking advantage of the benign conditions for government debt by issuing €500m in three-month treasury bills (T-bill) tomorrow.

Greece is to auction €3.125bn in short-term debt to help pay off a €3.2bn bond repayment due on August 20.

THE National Treasury Management Agency (NTMA) has topped up the country’s funding reserves, raising a further €600 million in short-term debt and avoiding the higher borrowing costs currently linked with longer-term bonds, in the process.