More Treasury Bills Sold Than Planned

The Ministry of Finance today raised 665 million kuna and 36.45 million euros from the sale of treasury bills, exceeding the plan, with the same or lower interest rates than at last week’s auction.

At today’s treasury bill auction, the Ministry of Finance offered for subscription treasury bills worth 250 million kuna and 30 million euros. Banking institutions and other investors submitted bids worth 837 million kuna and 60.25 million euros.

Ultimately, treasury bills worth 665 million kuna and 36.45 million euros were subscribed at the auction, equivalent to 276.11 million kuna. For treasury bills maturing in 91 days, 175 million kuna was subscribed, with an average interest rate of 1.09 percent, which is 0.06 percent lower than at the previous auction where bills with that maturity were offered on January 2. There remained 17 million kuna unused in the offer.

For treasury bills maturing in 182 days, 357 million kuna was subscribed, with an average interest rate of 1.90 percent, which is 0.10 percentage points lower than at last week’s auction. The Ministry of Finance did not accept all bids – 120 million kuna remained unused.

For treasury bills with a maturity of 364 days, 133 million kuna was subscribed, with an average interest rate of 2.50 percent, which is 0.10 percentage points lower than the previous time. The Ministry of Finance also did not accept all bids – 35 million kuna remained unused.

Additionally, at today’s auction, 4.95 million euros of treasury bills maturing in 91 days were subscribed, with an average interest rate of 0.80 percent, the same as last week. One million euros remained unused in the offer.

A total of 31.5 million euros worth of treasury bills maturing in 364 days was subscribed, with an average interest rate of 1.85 percent, which is 0.10 percentage points lower than last week. Bids worth 54.3 million euros were received. In total, as of today, treasury bills worth 17.23 billion kuna have been subscribed, or 573 million more than on the day of the previous auction.

A total of 684.614 million euros worth of bills has been subscribed, which is 5.35 million more than on the day of the previous auction. The next treasury bill auction will be held on February 5 via the Bloomberg Auction System (BAS).