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France sells extra 1.114 billion euros of BTF T-bills

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By Shoaib Ur Rehman
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imagePARIS: France sold an extra 1.114 billion euros ($1.53 billion)of BTF Treasury bills in the wake of Monday's regular auction, the Agence France Tresor public debt management agency said on Wednesday.

The extra awards comprised 708 million euros of 13-week bills, 354 million euros of 20-week bills and 349 million euros of 50-week bills - taking total sale proceeds from the latest weekly operation to 9.918 billion euros.

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.

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