Croatia sells EUR 700mn worth of 18-mo T-notes

By bne IntelliNews August 14, 2013

Croatia sold out a EUR 700mn issue of euro-denominated 18-mo Treasury notes on Tuesday, August 13, at an average annual yield of 5%, the ministry of finance said in a statement.

This was the first euro-denominated debt sale with 18-mo maturity of the Croatian government so far this year. Investors showed a considerable interest in it with banking and non-banking institutions  submitting offers to the value of EUR 1.14bn.

There were a number of three-month and one-year euro denominated T-bill auctions in Croatia this year. The last one took place on July 2 with average yields reaching 0.55% and 1.30%, respectively, somewhat lower compared to the previous sales. The size of the sold securities back then was EUR 3mn.

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