Croatia Sells T-Bills Below Target, Yields Flat

Yields on the three-month Treasury bills, the single issue that was traded on Tuesday, were 5.0%, the same as in the previous auction when they traded on September 16, the ministry said in a statement.

Besides tree-month T-bills worth 50 million kuna in par value, the ministry also offered in the auction six-month T-bills worth 50 million kuna but there were no takers among the investors. The ministry also offered one-year T-bills worth 300 million kuna in par value. Investors placed bids worth only 5.0 million kuna but the ministry did not sell any securities with that maturity.

The government's short-term debt in issued Treasury bills was 10.456 billion kuna after the auction, compared to 10.906 billion kuna a week earlier.

The ministry will hold its next auction on October 7 when it will offer T-bills worth 200 million kuna in par value.

(1 euro = 7.1095 Croatian kuna)