CYPRUS: 2-yr T-Bill auction raises €75 mln with 1.83% yield

The Public Debt Management Office of the Ministry of Finance raised €75 mln from a 2-year bond auction on Monday, with a yield of 1.83%.

 
The Treasury Bills were oversubscribed almost twice, with tenders submitted for €134.9 mln and yields that ranged 1.60-1.95%.
On Friday, the PDMO had successfully auctioned €50 mln of 30-day paper, for which €83 mln were submitted with a weighted average yield of 0.31%. The accepted yields ranged 0.17-0.42%.
Last week, the PDMO kicked off the new year with a successful auction of €120 mln in 13-week T-Bills with a yield of 0.48%.
The issue on Monday, January 4, was oversubscribed, while the average yield was substantively lower than the yield at the previous auction in November, when a total of EUR 100 mln were sold.
A PDMO announcement said that “during today’s 13 Week Treasury Bills Auction, tenders for a total amount of approximately EUR 224.9 mln were submitted, out of which EUR 120 mn total nominal value have been accepted with a weighted average yield of 0.48%. The accepted yields ranged between 0.24% and 0.55%”.
The accepted yields ranged between 0.53% – 0.70%, it said.