The PDMO said that tenders for a total amount of approximately €619 million were submitted, with a weighted average yield of 1.17%. The accepted yields ranged between 1.00% and 1.25%.
This follows last week’s successful return to the bond markets when Cyprus raised €1 billion from a 10-year Eurobond (EMTN) with a yield of 4.25%. This was the government’s third attempt since 2011 when it was shut out of markets due to the economy’s spiralling contraction that prompted a €10 billion bailout rescue by the Troika of international lenders (ERC, ECB, IMF).
The government’s previous 13-week T-bill worth €100 million yielded 1.58% on October 2, again significantly lower than the previous €100 million auction on August 31 with a yield of 1.87% and the higher 2.18% for €144 million of 13-week T-bills sold on July 2.
Source: Financial Mirror