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| Tuesday, 28 September 2004 |
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Treasury Bond auction oversubscribed The Treasury Bond auction held yesterday was oversubscribed with bids amounting to Rs. 10,777 million being received for three year and Rs. 9,800 million being received for four year, a Central Bank press release said. Rs. 6,000 million Treasury Bonds maturing on September 2, 2007 of 11.75 percent 2007 "F" Series with a coupon rate of 11.75 percent annually and Rs. 6,000 million Treasury Bonds maturing on September 15, 2008 of 7.70 percent 2008 "A" Series with a coupon rate of 7.70 percent annually were offered to the market. All bids received for three-year was at a premium. At the Treasury Bond Tender Committee it was decided to accept the entire amount on offer of Rs. 6,000 million from three-year maturity at the weighted average yield rate (WAYR) of 8.60 percent annually and Rs. 5,150 million from four-year maturity at the WAYR of 8.75 percent. The previous auction for the three-year maturity was held on September 21, 2004 and accepted at the WAYR of 8.60 percent and the last auction for four-year maturity was held on August 28, 2003 and accepted at the WAYR of 7.38 percent. |
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