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France sells 338mn euros in extra BTANs

PARIS : France sold an additional 338 million euros in five-year BTAN bonds after a debt auction last Thursday, Agence
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By Abdul Ahad
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EuroPARIS: France sold an additional 338 million euros in five-year BTAN bonds after a debt auction last Thursday, Agence France Tresor debt management agency said on Monday.

The non-competitive bids meant that France raised a total of 3.363 billion euros from the July 2016 line of its BTAN auction.

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 amount of securities they can buy after the auction at the average sale price is calculated according to how active they have been at previous sales.

Copyright Reuters, 2011

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