Ministry of Finance Sold 650 Million Kuna in Treasury Bills

The Ministry of Finance raised 338 million kuna and 41.5 million euros through treasury bills at today’s auction, significantly exceeding the planned amount, with slightly lower or the same interest rates compared to the previous auction.

The Ministry of Finance offered for subscription treasury bills worth 250 million kuna and 15 million euros. Banking institutions and other investors submitted bids worth 589 million kuna and 67.5 million euros. Ultimately, treasury bills worth 338 million kuna and 41.5 million euros were subscribed at the auction, which corresponds to a kuna equivalent of 313.83 million kuna.

At the same time, treasury bills amounting to 73 million kuna and 16 million euros are maturing for the Ministry of Finance. Thus, the balance of subscribed treasury bills in kuna increased by 265 million kuna compared to the previous auction held on January 8, now totaling 16.657 billion kuna, while the balance of treasury bills expressed in euros increased by 25.5 million euros, to 679.264 million euros.

For kuna bills with a maturity of 182 days, out of the offered 490 million kuna, the Ministry accepted bids worth 255 million, with an average interest rate of 2 percent, which is 0.1 percentage points lower than at the last auction.

For treasury bills with a maturity of 364 days, bids amounting to 108 million kuna were received, of which the Ministry accepted 83 million kuna. These treasury bills were placed at an average interest rate of 2.6 percent, the same as at the previous auction.

At the auction of treasury bills expressed in euros, for bills with a maturity of 91 days, 9.2 million euros were received, and 8.2 million euros were accepted, with an average interest rate of 0.8 percent, the same as last time.

Also subscribed were treasury bills worth 33.3 million euros with a maturity of 364 days, with an average interest rate of 1.95 percent, which is 0.05 percentage points lower than at the last auction. A total of 58.3 million kuna worth of bids were received, according to the statement from the ministry.