Finance Ministry organizes first 5-year T-bills auction

TIRANA, Nov. 9- The Finance Ministry issued a press statement announcing the successful completion of the auction for government bills maturing in five years. Such an auction is organized for the first time in Albania. It aims at improving debt management as well as developing a secondary market for government paper. The issue by the Finance Ministry is unique in its own kind. It is expected to extend the timeline for internal debt repayment. Bids were placed by eight different banks in the total amount of 10,710 million leks. The total offer by the ministry was 6,500 million leks. The Finance Ministry communicated its decision to continue issuing debt with a five year maturity period as well as studying the possibility of issuing long-term, foreign-currency denominated instruments. These measures are taken in the context of making leverage management more flexible.