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Wednesday, September 3, 2008

Finance ministry sells T-bills below planned.





Finance ministry sells T-bills below planned. The finance ministry reported that it again sold T-bills below the planned amount (HRK 300mn) at its latest auction. The ministry sold HRK 261mn (EUR 36.5mn) T-bills while bids reached HRK 301mn. Investors bided mainly for one-year T-bills and offered HRK 286mn, while the bids for six-month and three-month T-bills were HRK 5mn and HRK 10mn respectively. The ministry accepted all bids for six- and three-months notes but only HRK 246mn of the bids for one-year notes. The yield on one-year T-bills increased by 0.05pps to 5.80%, while the yield on six-month T-bills dropped by 0.5pps to 5.10% and on three-month T-bills remained unchanged at 5%. The ministry plans to hold the next auction on Sep 9, when it intends to offer HRK 400mn T-bills. The stock of the short-term government debt after the auction amounted to HRK 11bn.







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