Croatia's T-bill auction beats target, yield falls

ZAGREB

, Feb 21 (

Reuters

) -

Croatia

sold more bills than it had targeted at a treasury bill auction on Tuesday, with yield falling, finance ministry data showed. In the first auction for three weeks, the ministry sold 1.496 billion kuna ($211.63 million) of one-year bills compared with a target of 1.3 billion kuna. Demand amounted to 1.93 million kuna. The yield fell to 0.5 percent from 0.59 percent. Some 66 percent of the issue was taken up by non-bank investors. A little less than 1.3 billion kuna worth of bills mature later this week. The auction increased Croatia's total short-term debt in the national currency to 17.5 billion kuna from 17.3 billion. The next T-bill auction is planned for Feb. 28, when the ministry tentatively plans to raise 1.5 billion kuna. Below are auction details: Auction date Previous auction 21/02/17 31/01/17 1-year maturity Yield 0.50 0.59 Assigned price 99.504 99.419 Offered 1.3 bln HRK 600 mln Total bids 1.93 bln 980 mln Assigned 1.496 bln 800 mln ($1 = 7.0690 kuna) (Reporting by

Igor Ilic

, editing by Larry King)
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