France sells extra 931mn euros of T-bills after auction

PARIS: France sold an extra 931 million euros ($1.29 billion) of BTF Treasury bills in the wake of Monday's weekly auction, the public debt management agency, Agence France Tresor, said on Wednesday.

The extra allotments included 360 million euros of 13-week BTFs, 272 million of 22-week BTFs and 299 million of 52-week BTFs - taking total proceeds from the latest bill sale to 8.614 billion.

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 extra amount they can buy is calculated according to how active they have been at previous sales.