Croatia sells T-bills above target, yield flat

ZAGREB: Croatia sold 502 million kuna ($81.36 million) worth of one-year treasury bills on Tuesday, with the yield unchanged for the ninth consecutive auction, Finance Ministry data showed.

Amid persistently good liquidity, the sale was above the ministry's initial target of 400 million kuna. The yield was 0.09 percent.

Most of the bills were taken up by banks, with non-banking investors buying only 8 percent of the paper.

The ministry occasionally also auctions bills with three-month and six-month maturities as well as those denominated in euros.

After the auction, Croatia's overall short-term debt in the local currency inched up to 19.44 billion kuna from 19.35 billion kuna.