The issue was oversubscribed as tenders for a total amount of approximately €511,95 mn were submitted, while the average yield was substantively lower than the yield at the previous auction on November 2015, when a total of €100 million were sold.

An official press release said that “during today’s 13 Week Treasury Bills Auction, tenders for a total amount of approximately €224,9 mn were submitted, out of which €120 mn total nominal value have been accepted with a weighted average yield of 0,48%. The accepted yields ranged between 0,24% - 0,55%”.

The accepted yields ranged between 0.53% - 0.70%, it said.

Source: Famagusta Gazette