The Croatian Ministry of Finance sold 600 million kuna (€80 million) worth of treasury bills at an auction on Wednesday, which was a little more than had been planned to reschedule a debt that is about to mature.

Ahead of the maturity of treasury bills worth 586 million kuna, the Ministry offered 500 million kuna in treasury bills for subscription.

Financial institutions submitted offers worth nearly 790 million kuna, and the Ministry accepted 600 million kuna’s worth.

The treasury bills were issued with a maturity of one year and at an interest rate of 0.02%, the same as at the previous auction of kuna-denominated treasury bills held on 18 May. After today’s auction, with the maturity of 586 million kuna worth of treasury bills, the balance of kuna-denominated treasury bills increased by 14 million kuna to 14.44 billion kuna.

The Ministry said that the next auction is scheduled for 17 August.

(€1 = 7.49 kuna)