Top interest of 19.95 on bills
PA Wellington Interest rates of up to 19.95 per cent were paid by the Government yesterday in filling its $2OO million Treasury bill tender. This compares with a top rate of 18.88 per cent at the last tender which was held on April 16. Dealers bid a total of SI46M for 35 days stock and SIOSM for 42 days stock. The Reserve Bank exercised its right to accept under and over subscriptions and accepted SI2OM for the 35 days stock but only SBOM for the 42 days. It had offered $lOO million at
both maturities. The successful range of yields on the 35 days stock was 14.95 to 19.15 per cent, with a weighted average of 17.495 per cent. The range of unsuccessful bids was 19.5 to 23.25 per cent. The successful range of yields on the 42 days stock was 16.65 to 19.95 per cent with a weighted average of 18.405 per cent. The range of unsuccessful bids was 20 per cent to 22.84 per cent. This was the first Treasury bill tender for four weeks. The last three weekly tenders were not held due to tight liquidity.
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Press, 15 May 1985, Page 37
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195Top interest of 19.95 on bills Press, 15 May 1985, Page 37
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