Treasury bill auction oversubscribed

LAST Thursday’s treasury bill auction was oversubscribed by over K270 million as investors looked to participate in debt instruments, which are deemed as safe havens.
The Bank of Zambia (BoZ) was looking to raise K1.3 billion using the short-term debt instrument but instead attracted about K1.573 billion.
“The auction was oversubscribed with a subscription rate of about 121 percent. Out of K1.3 billion sought by BoZ at cost, K1.573 billion was allocated at cost,” Zanaco said in its treasury newsletter issued on Friday.
During the treasury bill auction 03/2021 held on February 11, yields on all tenures maintained at 14.0314 percent for CLICK TO READ MORE

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