Croatia's T-bill auction beats target, yield flat

ZAGREB: Croatia sold 876 million kuna ($127.83 million) of one-year bills at an auction on Tuesday, beating the target of 650 million kuna, while the yield stayed unchanged at 0.45 percent, finance ministry data showed.

In the first auction in four weeks demand amounted to 976 million kuna, while 672 million kuna worth of bills mature later this week.

After the auction Croatia's short-term debt rose to 17.68 billion kuna from 17.48 billion.

The next T-bill auction is planned for May 2, when the ministry tentatively plans to raise 600 million kuna against 575 million kuna worth of maturing bills.

Croatia sometimes also offers T-bills of three- and six-month maturity as well as those denominated in euros.