Albania sells EUR 28.6mn in two-year bonds, demand weakens.

By bne IntelliNews March 20, 2013
The Albanian central bank sold ALL 4bn (EUR 28.6mn) in two-year fixed-rate government bonds at an auction on March 19, in line with the initial offer, the bank said on its website. Investors submitted bids worth ALL 5.7bn providing a 1.4 coverage ratio, down from 2.1 at the previous auction, a month earlier, when the bank also sold the announced volume of ALL 4bn. Despite this, the average yield at the latest auction declined further by 17bps to 7.22%. The bank, which places state securities on behalf of the government, has sold ALL 16bn in two-year fixed-rate bonds since the beginning of 2013, while total lek-denominated bonds amounted to ALL 40bn.
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