Cyprus Mail

Yields drop as government sells €100m in 13-week T-bills

The government saw its borrowing cost drop on Monday when it sold a total of €100m in 13-week treasury bills at an average yield of 0.72 per cent, the Public Debt Management Office said.

The issue was over subscribed by 159 per cent with overall bids reaching €258.9m, the PDMO, a division of the finance ministry, said in a statement on its website.

On May 30, the previous time the government issued this type of security, it tapped a total of €130.7m at an average yield of 0.89 per cent.

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