Czech Republic sells EUR 272mn in 2016, 2028 bonds.

By bne IntelliNews February 21, 2013
The Czech finance ministry sold CZK 6.9bn (EUR 272mn) in 2016 and 2028 government bonds at an auction on February 20, 2013, below the maximum planned amount of CZK 10bn, the central bank said. The ministry sold CZK 3bn of the 3.5-year bonds that carry a fixed annual coupon of 0.5% and mature on July 28, 2016. This was the second tranche of the issue. The average yield rose to 0.833% from 0.628% achieved at the previous auction held on January 23, 2013, when the ministry also sold CZK 3bn of the notes. Investors demand weakened to CZK 4.3bn from CZK 4.6bn at the January auction. The ministry also sold CZK 3.9bn of the 15.5-year bonds maturing on August 25, 2028 and carrying a coupon of 2.5% in the first tranche of the issue. Investors placed CZK 6bn worth of bids providing a 1.5 bid-to-cover ratio. The average yield stood at 2.833%. The ministry was planning to sell between CZK 3bn and CZK 5bn in each of the two sales.

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