BAKU, Azerbaijan, September 23. The Republic of Estonia issued a total of 250 million euros in Treasury bills today, including 70 million euros in 6-month bills and 180 million euros in 12-month bills.
The data obtained by Trend from the country's Finance Ministry indicates that the securities were sold through a competitive auction targeted exclusively at institutional investors. The issuance was carried out to refinance maturing T-bills
The average yield to maturity reached 2.078 percent for the 6-month bills and 2.105 percent for the 12-month bills.
These transactions were conducted under Estonia’s Treasury bill program, approved by the Minister of Finance in 2020. The program allows for repeated issuance of short-term securities with maturities of up to 12 months, with interest rates determined by prevailing market conditions.
According to the Ministry of Finance, T-bill issuance serves as a tool to manage the state’s cash flow needs.
