September 23 (SeeNews) - Serbia’s Finance Ministry said on Wednesday it has sold out its 1.0 billion dinar ($15.6 million/10.7 million euro) offer of 12-month Treasury bills issued as part of the government's efforts to bridge the country's yawning budget gap.
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)