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France sold an extra 492 million euros of medium-term government bonds in the wake of last Thursday's regular auction, the public debt management agency Agence France Tresor said on Monday. The extra post-auction allotment comprised 291 million euros of a November 2016 OAT bond and 201 million euros of a November 2019 OAT, the agency said.
That took total proceeds from the latest monthly operation to 8.490 billion euros.
Under the French system, buyers not only submit competitive bids at the auction, but also have the option, for a limited period after the sale, of buying extra securities at the average auction price. The extra amount they can buy is calculated according to how active they have been at previous sales.

Copyright Reuters, 2014

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