Bosnia's Serb Republic sold out a BAM 25mn (EUR 12.8mn) issue of one-year Treasury bills on the Banja Luka Stock Exchange on Jan 27 in its first debt auction for the year, the entity's finance ministry said in a statement. The securities were sold at an average discount price equal to 96.16 of par, or an average annual interest rate of 4%.
The issue was oversubscribed with demand equalling to BAM 32.3mn, or 129.2% of the amount on offer. The newly sold debt papers mature on January 27, 2015.
This was the fourteenth issue of T-bills the Republic has auctioned so far after placing successfully four issues in 2011, four in 2012 (as a fifth issue offered for sale last year was unsuccessful) and six issues in 2013.
Bosnia's Serb Republic plans to sell Treasury bills worth BAM 45mn in 2014 but has to repay maturing short-term debt of BAM 118mn in the current year, the Republic's finance minister Zoran Tegeltija has said earlier in January.
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