Demand for Albania’s two-year bonds rises at primary auction bringing yields down.

By bne IntelliNews August 21, 2013

The Albanian central bank sold ALL 3.5bn (EUR 25mn) in two-year fixed-rate government bonds at an auction on August 20, in line with the initial offer, the bank said on its website.

Investors submitted bids worth ALL 8.9bn. This corresponded to a strong 2.5 coverage ratio, up from 1.95 in the previous auction a month earlier, when the bank also sold the announced volume of ALL 3.5bn. The average yield at the latest auction declined further by 88bps to 5.47%.

The bank, which places state securities on behalf of the government, has sold ALL 30.7bn in two-year fixed-rate bonds since the beginning of 2013, while total lek-denominated bonds amounted to ALL 72bn.

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