6-year retail bonds oversubscribed… again
The Public Debt Management Office of the Ministry of Finance announced that it has cut short for the second time the monthly sale of six-year retail bonds, due to oversubscription beyond the EUR 10 mln target fro the month.
The offer for the 12th series, dated December 2015, was terminated on Monday, the first day of the offer. The application period should have ended on November 20.
The next issue is the first series of 2016, with applications accepted from December 1 to 20 for issue on January 4, 2016.
Just a fortnight ago, the Ministry of Finance said it sold EUR 11.78 mln six-year retail bonds due from November, mildly oversubscribed above the monthly target of EUR 10 mln.
The PDMO said at the time that for the first eleven series (January-November) the Ministry of Finance sold a total of EUR 194.6 mln worth of the government bonds, of which EUR 61.5 mln to Cypriot investors and EUR 133.1 mln to foreign investors.
The application period for the eleventh series ended on October 19 as 60 applications were received for a total of EUR 11,784,500. From the bids accepted, 56 were submitted by Cypriots and four by foreign individuals. The values ranged from EUR 1,500 to 2.5 mln. EUR 8.6 mln were form foreign investors.