Croatia's T-bills sale doubles target, yield flat

ZAGREB: Croatia sold 800 million kuna ($122.10 million) worth of one-year treasury bills at an auction on Tuesday, double the target, with an unchanged yield, Finance Ministry data showed.

Amid very smooth local liquidity the overall bids amounted to 1.17 billion kuna. The yield remained flat at 0.09 percent.

Banks bought slightly more than half of the paper.

Occasionally, the ministry also sells bills with three-month and six-month maturities as well as those denominated in euros.

Following the auction, Croatia's short-term local currency debt rose to 16.92 billion kuna from 16.53 billion.

The next auction will take place on April 23.