Croatia sells EUR 167mn in Treasury bills, yields drop.

By bne IntelliNews May 3, 2012
Croatia's finance ministry said it sold EUR 167.1mn in Treasury bills at its May 2 auction. A total of HRK 891mn (EUR 119mn) of the sold securities were denominated in kuna, while the remaining EUR 48.1mn were denominated in euro, the ministry said in a statement. The planned amount of the kuna-denominated T-bills stood at HRK 600mn, while that of the euro-denominated T-bills was EUR 45mn. The ministry sold HRK 310mn worth of three-month kuna-denominated T-bills after receiving bids for HRK 665mn. It also sold HRK 185mn of six-month kuna-denominated T-bills after receiving bids for HRK 310mn and placed HRK 396mn of one-year kuna-denominated T-bills, facing a demand for HRK 592mn. The yields on the three-month T-bills stood at 3% (dropping from previous 3.55%), on the six-month T-bills at 3.75% (dropping from previous auctions 4%) and on the one-year T-bills at 3.95% (inching down from last weeks 4.24%). The ministry also sold a three-month issue of euro-denominated T-bills worth EUR 11mn, yielding 2.99% (down from previous auctions 3.3%), and a EUR 37.1mn one-year euro-denominated T-bills issue, yielding 3.9% (down from previous 4.05%).
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