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Slovenia Sells EUR 1.1BN in T-Bills

Ljubljana, 17 April (STA) - Slovenia sold EUR 1.1bn in 18-month treasury bills on Wednesday, beating the sum it planned to raise by two-fold at an annual interest rate of 4.15%.

The 4.15% interest rate is 16 basis points above the last comparable sale of 18-month treasury bills carried out in December 2011.

The ministry said the demand for today's issue, which was dominated by domestic banks, stood at EUR 1.14bn with an interest rate ranging from 3.5% to 4.66%.

The auctioned bills will be due for repayment on 16 October 2014.

The sale was coupled with a buyback of EUR 511m in 18-month treasury bills due for repayment on 6 June, the Finance Ministry said in a statement.

The buyback offer included the whole issue of bills worth around EUR 855m at a price of 99.525% of the face value.

Today's issue of treasury bills was the biggest auction of government debt since the autumn of 2012 and comes after the treasury failed to achieve its targets in a sale of 6- and 12-month bills last week.

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