Albania sells EUR 29.3mn in two-year bonds, demand drops.

By bne IntelliNews December 19, 2012
The Albanian central bank sold ALL 4.1bn (EUR 29.3mn) worth of two-year fixed-rate bonds at an auction on December 18, in line with the initial offer, the bank said on its website. Investors submitted bids worth ALL 5.6bn providing a 1.37 coverage ratio, down from 2.65 ratio at the previous auction, held on November 20, when the bank sold ALL 1bn in two-year bonds. The average yield at the latest auction dropped by 2pps to 7.68%. The bank, which places state securities on behalf of the government, has auctioned lek-denominated bonds of ALL 73.5bn since the start of 2012.
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