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Nov 16, 2023 17:56 EEST
November 16 (SeeNews) - Retail investors have subscribed and paid for 492 million euro ($536 million) worth of Croatia's first ever Treasury bill issue available to both individuals and institutional investors since Monday, prime minister Andrej Plenkovic said on Thursday.
The subscription started on Monday and will end for retail investors on November 20.
Almost 24,000 individuals have taken part in the subscription, Plenkovic told a weekly cabinet meeting, referring to data of the finance ministry by 11 am local time on Thursday, as seen in a video posted on the government’s Youtube channel.
The subscription for institutional investors will take place on November 21. The maturity date of the issue is November 21, 2024.
The government said earlier it aims to raise 440 million euro through the T-bill issue and could adjust the amount of the offer, depending on investor demand.
“It is an important project where we have demonstrated that with an annual yield of 3.75%, which is higher than the yield on the two-year government bond, we offer out citizens a way to invest their money and show confidence in the state and state finances, obtaining better conditions compared to, for example, one-year deposits with commercial banks,” Plenkovic added.
In March, the finance ministry set at 3.65% the annual coupon rate on its maiden two-year retail bond issue through which it raised 1.85 billion euro.
($ = 0.919 euro)
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