June 6 (SeeNews) - Macedonia's finance ministry sold on Tuesday a combined 500 million denars ($9.2 million/8.1 million euro) of six-month Treasury bills and 15-year Treasury bonds, the central bank, NBRM, said.
The finance ministry offered 200 million denars of six-month T-bills and 300 million denars of 15-year T-bonds, both with euro clause.
The six-month government securities issue was more than six times oversubscribed. Its coupon was set at 1.45%, down from 2.2% in November, 2016.
The issue with longer maturity had the same coupon as in previous auctions. Demand for it exceeded supply more than twice.
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 with euro clause
Auction date |
June 6 |
Nov 29,2016 |
Maturity date |
Dec 12 |
June 7 |
Amount offered (mln denars) |
200 |
500 |
Amount sold (mln denars) |
200 |
500 |
Total bids placed (mln denars) |
1,321 |
1,104.5 |
Bid-to-cover ratio |
6.61 |
2.21 |
Coupon |
1.45% |
2.20 |
15-year T-bonds with euro clause
Auction date |
June 6 |
May 2 |
Maturity date |
June 8, 2032 |
May 4, 2032 |
Amount offered (mln denars) |
300 |
185 |
Amount sold (mln denars) |
300 |
185 |
Total bids placed (mln denars) |
806.5 |
291 |
Bid-to-cover ratio |
2.69 |
1.57 |
Coupon |
3.8% |
3.8% |
(1 euro = 61.45 denars)