July 19 (SeeNews) - Macedonia's finance ministry sold 536 million denars ($10 million/8.7 million euro) of one-year Treasury bills at an auction on Tuesday, below its target of 750 million denars, the central bank, NBRM, said.
The issue carried a coupon of 1.85%, higher than the 1.75% coupon offered at the previous auction of one-year T-bills held in May, NBRM said.
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.
Details follow:
1-year T-bills
Auction date |
July 19 |
May 16 |
Maturity date |
July 18, 2018 |
May 15, 2018 |
Amount offered (mln denars) |
750 |
750 |
Amount sold (mln denars) |
536 |
750 |
Total bids placed (mln denars) |
536 |
750 |
Bid-to-cover ratio |
0.71 |
1 |
Coupon |
1.85% |
1.75% |
Source NBRM
(1 euro = 61.4 denars)