articles | 29 January 2018

Cyprus 13-week T-bills yields decline to -0.16%

The Finance Ministry issued a €100 million in 13-week Treasury Bills with yields declining to -0.16%, the Public Debt Management Office (PDMO) announced.

The auction was oversubscribed by 2.9 times, as the PDMO received offers amounting to €294 million.

The PDMO said it accepted offers amounting to €100 million with a weighted average yield of 0,16%. The accepted yields ranged from -0.17% to 0.15%, the PDMO added.

From the total offers received, €139 million were competitive offers and €155 non-competitive.

Of the total accepted offers, €75 million were competitive and €25m non-competitive.

According to the PDMO’s annual financing programme, T-bills are expected to cover up to 25% of the state’s total financing needs for 2018 estimated between €1.2 billion and €1.5 billion.

Source: CNA

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