Cyprus Mail

Government sells €21.5m in 30-day treasury bills

The public debt management office said that the government sold a total of €21.5m in 30-day treasury bills on Wednesday at an average rate of 0.38 per cent, slightly higher than the previous issue.

Today’s issue was considerably undersubscribed as total subscriptions were €25.5m, which is 51 per cent of the issue, the PDMO, a division of the finance ministry, said in an emailed statement.

A month ago, the government sold €50m of this type of security at an average rate of 0.36 per cent.

It is the government’s first debt issue after the euro area’s finance ministers sealed on Monday the completion of Cyprus’s adjustment programme.

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