The Central Bank of Bahrain (CBB), on behalf of the government, successfully issued this week’s treasury bills with a maturity date of July 3. The BD70 million ($185.74 million) bills, carrying a maturity of 91 days, have been oversubscribed by 111 percent.
The weighted average rate of interest for this treasury bill issuance stands at 5.94 percent. This reflects a marginal increase compared to the previous issue’s rate of 5.90 percent on March 27.
The demand for treasury bills remained robust this week, indicating investor confidence in the country’s fiscal health.
The approximate average price for Bahrain’s treasury bills was 98.520 percent, with the lowest accepted price reaching 98.432 percent.
With this week’s treasury bills’ issue, the total outstanding value of the treasury bills is BD2.110 billion.
Earlier this month, Bahrain’s central bank announced a BD35 million issuance of treasury bills, which recorded an oversubscription rate of 147 percent. The bills carried a maturity of 182 days due September 22.
Notably, the Central Bank of Bahrain issues treasury bills with three different maturities. The first has a maturity of three months or 91 days and is issued on a weekly basis. The central bank also issues six-month bills on a monthly basis. Finally, it also issues 12-month bills on a monthly basis.
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