$80 million bond sold – Financial Tribune

The government sold 23 trillion rials ($79.3 million) worth of bonds in the latest auction held each week to raise funds for its budget deficits.
Banks, non-bank credit institutions, investment funds and institutional stock market investors are the main buyers of bonds.
This week, the buyers in the interbank market were four banks and credit institutions that together submitted offers worth 12.6 trillion rials. Retail and institutional buyers took on 14.3 trillion rials in debt.
The government generated 361 trillion rials ($1.2 billion) in 15 auctions. Banks and credit institutions accounted for about 35% of the total while capital market investors took the rest.
The CBI said it would hold the next auction on Tuesday and offer bonds worth 63 trillion rials ($217 million).
In addition to bonds, the economy ministry said the government had sold treasury bills worth 350 trillion rials ($1.2 billion) since the start of the fiscal year in March. Treasury bills are guaranteed and given to government contractors in lieu of unpaid bills.
The government plans to sell 373 trillion rials ($1.28 billion) of new debt by March 2023.
The bond sales are in line with the provisions of the 2022-23 budget in which the government is authorized to sell 860 trillion rials ($2.8 billion) of bonds this year.