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Greece to auction 1.25 bln eur T-bills on Oct 16 - debt agency

ATHENS, Oct 12 (Reuters) - Greece will auction 1.25 billion euros ($1.62 billion) of three-month T-bills next Tuesday, the country's debt agency PDMA said on Friday.

The settlement date will be Oct. 19. Only primary dealers will be allowed to participate and no commission will be paid.

Monthly T-bill sales are Greece's sole remaining source of market funding. Greek banks buy the bulk of them to deposit them as collateral to draw liquidity from the European Central Bank. ($1 = 0.7726 euros)

(Reporting by Lefteris Papadimas)

((karolina.tagaris@thomsonreuters.com; +30 210 337 6438; Reuters Messaging: karolina.tagaris.thomsonreuters.com@reuters.com))

Keywords: GREECE TBILLS/