The government saw its borrowing cost drop recently when it sold a total of €100m in 13-week treasury bills at an average yield of 0.72%, the Public Debt Management Office said.
The issue was oversubscribed by 159% 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%.
Source: Cyprus Mail
