Cyprus Mail

Yields rise as government sells €100m in 13-weeks t-bills

Yields on 13-week treasury bills rose to 0.79 per cent on Monday when the government tapped a total of €100m by selling this type of security at an auction, the finance ministry’s public debt management office said.

The issue was oversubscribed by 29 per cent, with total competitive offers and non-competitive offers amounting to €51.7m and €77m respectively, the public debt management office said in an emailed statement.

The previous occasion the government sold this type of security was on February 29, when it also borrowed €100m at an average yield of 0.58 per cent.

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