Finance Ministry Issues 2.55 Billion Kuna Worth of Treasury Bonds

ZAGREB, April 21, 2020 – The Croatian Ministry of Finance sold HRK 2.55 billion worth of treasury bonds at an auction on Tuesday, considerably more than planned.

In advance of the maturity of HRK 1.16 billion worth of treasury bonds, the Ministry offered HRK 1.5 billion for subscription with a maturity of one year. Financial institutions submitted bids totalling HRK 2.55 billion and the Ministry accepted them all.

The Ministry issued HRK 2.55 billion in kuna-denominated treasury bonds with a maturity of one year and at an interest rate of 0.06%, the same as at the previous auction. The low interest rate is not surprising given the liquidity surplus in the financial system of some HRK 34 billion.

With the maturity of HRK 1.16 billion worth of treasury bonds, the balance of kuna-denominated bonds subscribed increased by HRK 1.39 billion to HRK 17.9 billion.

The next auction is scheduled for April 28 via the Bloomberg Auction System.

More budget news can be found in the Business section.

 

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