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Business Cyprus

Yields rise as government sells €100m in treasury bills

The government on Monday sold €100m in treasury bills at an average yield of minus 0.22 per cent, the Public Debt Management Office (PDMO) said.

The average yield rose by 5 basis points compared to the all-time low registered at the May 25, auction, the PDMO said in a statement on its website. The maximum yield was minus 0.20 per cent and the lowest minus 0.24 per cent.

The issue, with a subscription rate of 170 per cent, comprised of €107m in competitive bids and €63m in non-competitive bids, the office said. It accepted €75m in competitive bids.

The next auction is scheduled for August 27.

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