Montenegro sells EUR 8mn worth of 91-day T-bills, yields drop.

By bne IntelliNews March 6, 2013
Montenegro raised EUR 8mn in a 91-day Treasury bills auction held on Tuesday, March 5. The securities were sold at an average yield of 3.23% which is considerably below the 5.47% yield in the previous such auction held on July 19, 2012. The total submitted bids amounted to EUR 13.6mn. The bills mature on June 6, 2013. This was Montenegro's second auction for the year after it sold EUR 43.5mn of 182-days T-bills on February 25. Last year Montenegro placed eleven issues of six-month T-bills and two issues of three-month T-bills, raising a total of EUR 147mn or 89% of the amount on offer.
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