Cyprus Mail

Yields drop to historic low, as PDMO sells €100m in 13-week T-bills

The government sold a total of €100m in 13-week treasury bills at an average yield of 0.31 per cent, which is a new historic low, the second in a month, the Public Debt Management Office said.

The issue, the first since Fitch Rating upgraded Cyprus’s sovereign credit rating to BB- on October 21, and only five days after Finance Minister Harris Georgiades was cautioned by the European Commission over fiscal relaxation, was more than three times oversubscribed, the PDMO, a division of the finance ministry, said in an emailed statement on Monday.

The previous time the government issued this type of security, it tapped €100m at an average yield of 0.47 per cent.

Related Posts

‘Official’ buildings to be opened in Varosha, Tatar says

Nikolaos Prakas

Erdogan hints at creation of new military base in north

Nikolaos Prakas

Cancer patients to protest, want shoe factory held to account

Nikolaos Prakas

Greek Cypriot activist held in north finally released

Iole Damaskinos

Kyriakides: Strong cooperation is key to prepare for new Covid waves

Gina Agapiou

Work on EuroAsia connector to begin next week

Jonathan Shkurko