PARIS: France sold an additional 1.498 billion euros in medium-term fixed-rate notes, known as BTANs, following an auction on Thursday, debt management agency Agence France Tresor said.
The AFT said it sold an extra 1.368 billion euros of its 1.00 percent 5-year BTAN, 123 million euros of its 2.50 percent BTAN maturing in July 2016, and 7 million euros of its 2.00 percent note due in July 2015.
The non-competitive bids meant France raised a total of 9.46 billion euros from the four lines of its Oct. 18 auction.
It is customary for the Treasury to sell extra debt this way. 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 to buy 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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