The Central Bank of Bahrain (CBB) said that this week’s BD25 million ($66.3 million) issues of Government Treasury Bills has been oversubscribed by 408 per cent.

The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of Kingdom of Bahrain. The issue date of the bills is July 8 and the maturity date is October 07, a CBB release said.

The weighted average rate of interest is 0.93% compare with 0.96%, for the previous issue on June 24, 2009, it added.

The approximate average price for the issue was 99.765 per cent with the lowest accepted price being 99.765 per cent. With this, the total outstanding value of Government Treasury Bills is BD 325 million.-TradeArabia News Service