New Borrowing by the Ministry of Finance

The Ministry of Finance accepted the majority of bids from financial institutions for the subscription of treasury bills at today’s auction, with the same or slightly lower interest rates than last time, raising 874 million kuna and 29 million euros, as announced by the ministry.

At today’s auction, the Ministry of Finance offered 700 million kuna and 15 million euros worth of treasury bills for subscription.

Banking institutions and other investors submitted bids worth 914 million kuna and 29.1 million euros.

Ultimately, 874 million kuna worth of treasury bills and 29 million euros worth of treasury bills were subscribed, which is equivalent to 219.48 million kuna.

In this process, the Ministry of Finance sold 480 million kuna of treasury bills with a maturity of 182 days, at an average interest rate of 1.80 percent, the same as last time. All offers were utilized.

394 million kuna of treasury bills were also subscribed for a term of 364 days, with an average interest rate of 2.55 percent, the same as last time. Not all offers were accepted, leaving 120 million kuna unused.

Additionally, at today’s auction, 29 million euros worth of treasury bills with a maturity of 364 days were subscribed, at an average interest rate of 1.70 percent, which is 0.10 percentage points lower than last time. 100,000 euros remained unused in the offer.

At the same time, 1.088 billion kuna and 27.5 million euros worth of treasury bills matured, resulting in a decrease in the total debt balance of the Ministry of Finance in kuna, while the balance in euros increased.

As of today, a total of 20.988 billion kuna worth of treasury bills has been subscribed, which is 214 million less than on the day of the previous auction.

A total of 446.56 million euros worth of bills has been subscribed, which is 1.5 million more than on the day of the previous auction.

The next auction of treasury bills will be held on June 4 via the Bloomberg Auction System (BAS).