Serbia Sells 1.0 Bln Dinars (10.7 Mln Euro) in 12-mo T-bills

The average accepted price in the auction was equal to 89% of par and the accepted interest rate was 12.4%, the ministry said in a statement posted on its website.

The ministry sold 100,000 T-bills with a nominal value of 10,000 dinars each. The government securities will mature on September 22, 2010.

Serbia held its debut auction of 12-month T-bills on August 26 when it also sold out its entire 1.0 billion dinar offer of government securities at an interest rate of 12.50%. It held a second one last Wednesday, selling out its entire 1.0 billion dinar offer at an interest rate of 12.45%.

(1 euro= 93.3063 Serbian dinars)