Albania's cuts offer of two-year bonds on weak demand

By bne IntelliNews June 20, 2014

The Albanian central bank sold ALL 4bn (EUR 28.8mn) in two-year fixed-rate government bonds at an auction on June 19, cutting the initial offer by ALL 0.5bn on lower demand, the bank said on its website.

The issue was undersubscribed and bond sales only matched the investors' demand. The average yield stood at 4.84%, slightly down from 4.85% at the previous auction held on May 19, 2014.

The central bank, which places state securities on behalf of the government, has sold ALL 18.5bn in two-year fixed-rate bonds since the beginning of 2014, while total lek-denominated bonds amounted to ALL 39bn.

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