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

The average accepted price in the auction was equal to 89% of par, the ministry said in a statement.

The ministry sold 100,000 T-bills with a nominal value of 10,000 dinars each. The government securities will mature on October 27, 2010.

In the previous auction of 12-month T-bills held on October 21 the ministry also sold its entire offer of 1.0 billion dinars worth of government securities.

Serbia holds scheduled auctions of three-month T-bills every week on Tuesdays, of 12-month T-bills on Wednesdays and of six-month T-bills on Thursdays.

The next auctions of six-month, three-month and 12-month T-bills will be held on October 29, November 3, and November 4 respectively.

Serbia held its debut auction of 12-month T-bills on August 26, aiming to bridge its yawning budget gap.

(1 euro= 93.3513 Serbian dinars)