Treasury beats GHS 2.96bn T-Bill auction target by GHS 504m
The Treasury, in its T-Bill auction last Friday mobilized an amount of GHS 3.46bn.
This was against a programmed target of GHS 2.96bn.
On the back of the bids accepted, the Treasury exceeded its target by GHS 504m.
The GHS 3.46 billion accepted bids were detailed in the BoG auction results following the Central Bank’s post-auction meeting with the Central Securities Depository (CSD) and the Finance Ministry.
The GHS 3.46 billion bids accepted by the Treasury imply a 17% oversubscription rate above the initial GHS 2.96 billion target.
This was despite the reduction in yields across the three tenors which are the 91–Day, 182-Day, and 364-Day Bills.
Among the various tenors, the 91-day Bill attracted the highest number of subscriptions, followed by the 182-Day Bill and the 364-Day Bill.
The successful bids after the auction amounted to GHS 2.01 billion, GHS 1.13 billion, and GHS 315 million for the 91–Day, 182-Day, and 364-Day tenors respectively.
The auction yields settled at 25.44% for the 91-Day Bill and 27.39% for the 182-Day Bill with both declining by 10bps and 25bps respectively compared to the rates for the previous auction.
The 364-Day bill also saw a yield decline of 25bps to settle at 27.99%.
Looking ahead to the next auction, the treasury aims to raise some GHS 3.67 billion through the issuance of the 91,182, and 364 Day bills to cater for impending maturities.
