Cyprus to auction EUR 1 bln T-bills

The Central Bank of Cyprus announced the issue, on behalf of the Government, of new 1.50% Government Treasury Bills with a 35-week duration. The issue will be EUR1 bln and the Bills will be sold by tender only to interested credit institutions.
The tender will take place on 27.4.2009 and the issue date will be 29.4.2009. Tenders should be submitted by 12:30 p.m. on 27.4.2009.
The issue is part of the government of Cyprus efforts to pump liquidity into the banking system to drive down interest rates, which remain among the highest in the eurozone.