October 25 (SeeNews) - Serbia sold on Tuesday 23.4 billion dinars ($206.6 million/189.9 million euro) in a reopening of a seven-year Treasury note issue, well bellow its target of 81.7 billion dinars amidst insufficient demand, the finance ministry’s treasury department said.
The average yield on the notes, which bear an annual coupon of 5.75%, was 5.64%, below the level of 5.98% achieved at the previous auction of the issue held on July 19.
Demand for the T-notes, which mature on July 21, 2023, was 33.05 billion dinars.
|
October, 25 |
July,19 |
Amount offered (bln dinars) |
81.7 |
110 |
Amount sold (bln dinars) |
23.4 |
28.3 |
Total bids placed (bln dinars) |
33.05 |
41.5 |
Bid-to-cover ratio |
1.4 |
1.5 |
Yield |
5.64% |
5.98% |
(1 euro=123.274 dinars)