PARIS: France sold an additional 388 million euros of short-term BTF treasury bills on Wednesday, following an auction on Monday, debt management agency Agence France Tresor said.
The AFT said it had placed an extra 307 euros of its 13-week BTF, 18 million of its 24-week BTF, 37 million euros of its 34-week bill and 26 million euros of its 50-week bill.
The non-competitive bids meant that France raised a total of 8.4 billion euros from the four lines of its Feb. 20 auction.
The treasury routinely sells extra debt in in a system where buyers not only submit competitive bids at the auction, but also have the option, for a limited period after the sale, to buy 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.
Comments
Comments are closed for this article.