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Bahrain C.bank sells $93.5m T-bills

Bahrain C.bank sells $93.5m T-bills
The issue has 182-days maturity period

Mubasher: The Central Bank of Bahrain (CBB) on Wednesday announced that the BHD 35 million ($93.5 million) issue of the government treasury bills (T-bills) this week has been oversubscribed by 332%.

The issue has 182-days maturity period, which will begin on 12 May and end on 10 November, according to the CBB’s statement.

The average interest rate of this issue is 3.5% compared to 3.95% for the previous issue, the statement added.

The T-bill issue has an approximate average price of 98.263% with the lowest accepted price at 98.238%.

The bills are issued by the central bank on behalf of the Bahraini government.