182-day Archives - Page 3 of 3

22 Feb

T-Bills Auction: Government To Raise ¢2.89bn This Week

wontumionlineBusiness, News182-day, 364-day, 91-day, T-Bills

The government will raise ¢2.89 billion in Treasury bills this Friday February 24, 2022 to refinance T-bill maturities worth ¢2.65 billion. The bills will be issued across the 91-day, 182-day and 364-day tenors. Ahead of this, analysts expect investor demand to remain strong, leading to declining yields. Yields are expected to decline in the near term. This is primarily so because the Treasury market is the only source of borrowing for government. In the T-bill auction last week, the government mobilized ¢2.76 billion out of ¢3.11 billion as investor demand remains strong. The uptake exceeded the auction target of ¢1.71…

07 Feb

T-Bills: Government To Raise ¢2.76bn This Week

wontumionlineBusiness182-day, 91-day, Domestic Debt Exchange Programme, T-Bills

The government will raise ¢2.76 billion on Friday, February 10, 2023, to refinance Treasury bill maturities worth ¢2.53 billion. This will be issued via the 91-day, 182-day and and 364-day bills. With such a large size on offer, the yields are expected to continue the upward trajectory, but marginally. Following the Domestic Debt Exchange Programme, which has triggered the suspension of the issuance of bonds, the short term securities market remain the only source of borrowing for the government. Consequently, investors have no option than to invest in the treasury market for gains. Last week, the government mobilised ¢1.95 billion…

16 Jan

Interest Rates Remain Unchanged As Government T-Bills Oversubscribed By 52%

wontumionlineBusiness182-day, 91-day, Inflation, Interest rates, T-Bills

Interest rates remained stable despite the government achieving more than 52% oversubscription of Treasury bills sale. According to the latest auction results, government obtained ¢1.72 billion from the short-term securities, but accepted ¢1.71 billion of the bids tendered. The target for the auction was ¢1.125 billion. More than 85% of the bids tendered were from the 91-day T-bills as demand surged. Government accepted all the bids of about ¢1.47 billion. Again, the government accepted all the bids of ¢198.49 million tendered by the investors, largely banks. The yield on the 91-day and the 182-day T-bills dipped slightly though relatively same…

04 Jan

Government To Raise ¢1.49bn In T-bills This Week

wontumionlineBusiness182-day, 364-day, 91-day, imf, maturities, T-Bills

Government is expected to raise ¢1.49 billion this week to refinance the upcoming Treasury bills maturities of ¢1.37 billion. This follows a narrow miss of its target last week. The government raised ¢1.81 billion last week against a target of ¢1.87 billion, about 96.81% of the auction target. The uptake, however, exceeded the refinancing obligation. The T-bill curve continued to flatten as the yield on the 182-day was 35.98%, while interest on the 364-day stood at 35.89%. The 91-day bill, however, cleared at 35.36%. Analysts expect T-bill yields to decline as an expected IMF support-programme in the first quarter of…

05 Dec

Investor Interest In Treasury Bills Soar Despite Debt Restructuring Programme

wontumionlineBusiness182-day, 91-day, oversubscription, Treasury Bills

Investor interest in Treasury securities inched up significantly despite the expected announcement of a debt restructuring programme by the government. Government treasury bills sales grew by 49.3% week-on-week, as it got ¢2.76 billion during the last auction Thursday, December 2, 2022. This is the third week running that the government T-bills have been oversubscribed. Following the announcement of ‘haircut’ for government bonds, investors are now migrating to short-term securities, hence the growing interest. For the first time in several months, the 182-day T bills also recorded huge participation as bids tendered were estimated at ¢519.87 million. ¢502.01 million was however…