ZAGREB: Croatia sold 1.05 billion euros ($1.21 billion) worth of 15-month treasury bills at an auction on Thursday, with a zero yield, finance ministry data showed.
The outcome was just a bit over the target set at 1.0 billion euros, while 1.5 billion euros worth of the paper mature next week. The newly issued paper matures on May 7, 2020.
The banks soaked up 98 percent of the bill.
Usually, the ministry mostly sells the bills with one-year maturity, but occasionally also those having three-month and six-month maturities.
On Feb. 1 Croatia will open books for two longer-term domestic bonds having three-year and 10-year maturities.
The three-year bond will be denominated in euros and will serve to partly refinance the maturing 15-year treasury bill, while extending the maturity of a portion of borrowed funds.
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