CYPRUS: 30-day T-bills oversubscribed, yield at 1.75%

The Public Debt Management Office of the Ministry of Finance announced that the auction on Thursday of €50 mln 30-day Treasury Bills was oversubscribed by about 1.24 times, with the yield dropping to 1.75%, compared to 1.81% in the May auction.
In all, bids worth €62.6 mln were received for the T-Bills, with an issue date of June 17 and listing on the CSE and maturity of July 17. This was down from the bids worth €76.1 mln received in the May audtion.
The yields on the submitted bids were 1.45 – 1.89%, for an average yield of 1.75%.