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Business & Finance

France sells extra 457m euros of T-bills

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By Muhammad Iqbal
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imagePARIS: France sold an additional 457 million euros of BTF T-bills on Wednesday following an auction on Monday, debt management agency AFT said.

It sold an extra 76 million euros of the 12-week BTF, 164 million euros of the 23-week BTF and 217 million euros of the 49-week BTF.

The non-competitive bids meant that France raised a total of 8.439 billion euros from the 3 lines of its April 22 BTF auction.

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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