The Finance Ministry on Tuesday sold 1.32 billion kuna (€174 million) worth of treasury notes at an auction, 120 million kuna (€16 million) more than planned, including treasury bonds with six months' maturity that were sold without interest.

In advance of the maturity of 1.21 billion kuna (€160 million) worth of treasury bonds, the Ministry offered 1.2 billion kuna (€158 million) for subscription, 1 billion kuna (€132 million) with a maturity of one year and 200 million kuna (€26 million) with six months’ maturity.

Banks submitted bids totalling 3.3 billion kuna (€435 million).

The Ministry issued 1 billion kuna (€132 million) worth of treasury bonds with a maturity of one year at an interest rate of 0.02 percent, or 0.01 percentage points lower than in the previous auction held on 23 February.

Also issued were 320 million kuna (€42 million) worth of treasury bonds at 0 percent interest.

The balance of kuna-denominated bonds subscribed has now increased by 110 million kuna (€14 million) to 14.77 billion kuna (€1.9 billion).

(€1 = 7.57 kuna)