TIRANA (Albania), March 18 (SeeNews) - Albania's central bank sold 5.5 billion leks ($63.4 million/40 million euro) worth of five-year Treasury notes in an auction held last month, the Finance Ministry said on Tuesday.
The central bank, which offers government securities on behalf of the Finance Ministry, on February 6 offered T-notes in two separate batches - one equalling 3.0 million leks and carrying a fixed coupon of 9.00%, and the another worth 2.5 billion leks with a floating coupon.
Dealers placed bids worth 3.52 billion leks for the fixed-rate T-notes which have an issue date of February 8 and mature on February 8, 2013. Coupon payments are due semi-annually.
At the auction dealers placed bids worth 5.25 billion leks for the floating-rate five-year T-notes. The notes bear a 9.22% coupon rate. The floating coupon of the government securities is pegged to the average yield of 12-month Treasury bills reached in the last three auctions prior to the five-year T-note, plus a margin set by the banks' bidding in the auction of five-year government paper. The coupon is adjusted every year.
Albania holds auctions of five-year T-notes every three months.
Albania also holds weekly auctions of three-month T-bills and auctions six-month and 12-month T-bills twice a month. Monthly it holds auctions of two-year government securities and every three months it holds three-year T-notes auctions.
(1 euro= 124.3622 Albanian leks)
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