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Macedonia sells 1.67 bln denars (27.3 mln euro) in govt paper, coupons flat

Macedonia sells 1.67 bln denars (27.3 mln euro) in govt paper, coupons flat Toshe Ognjanov/Shutterstock.com

SKOPJE (Macedonia), July 4 (SeeNews) - Macedonia's finance ministry raised on Tuesday a combined 1.67 billion denars ($31 million/27.3 million euro) in four issues of government securities with different maturities, below its target of 1.72 billion denars, the central bank, NBRM, said.

The coupon of all the issues was unchanged from previous similar auctions.

NBRM sells government securities on behalf of the finance ministry through volume tenders, in which the price and coupon are fixed in advance and primary dealers only bid with amounts.

Government securities with a euro clause are issued and sold in denars and indexed to the euro.

Details follow:

6-month T-bills

Auction date July 4 May 2
Maturity date Jan 10,2018 Nov 1,2017
Amount offered (mln denars) 200 230
Amount sold (mln denars) 150 230
Total bids placed (mln denars) 150 583
Bid-to-cover ratio 0.75 2.53
Coupon 1.55% 1.55%

6-month T-bills with euro clause

Auction date July 4 June 27
Maturity date Jan 10, 2018 Dec 13,2017
Amount offered (mln denars) 473 150
Amount sold (mln denars) 473 150
Total bids placed 473 574
Bid-to-cover ratio 1 3.83
Coupon 1.45% 1.45%

1-year T-bills

Auction date July 4 June 27
Maturity date July 4,2018 June 20,2018
Amount offered (mln denars) 591.33 150
Amount sold (mln denars) 591.33 150
Total bids placed 591.33 284.15
Bid-to-cover ratio 1 1.89
Coupon 1.85% 1.85%

15-year T-bonds with euro clause

Auction date July 4 June 27
Maturity date July 6,2032 June 29,2032
Amount offered (mln denars) 459.64 900
Amount sold (mln denars) 459.64 900
Total bids placed 459.64 1,140.5
Bid-to-cover ratio 1 1.27
Coupon 3.80% 3.80%

(1 euro = 61.39 denars)

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