Treasury bills oversubscribed by Tsh52 bn

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By Mnaku Mbani
Despite the reduced yields, the treasury bills floated yesterday by the Bank of Tanzania on behalf of the Government of United Republic of Tanzania were oversubscribed by Tsh52.8 billion, the auction summary has said.The summary has shown that a total of 223 bids were received but only 127 bids were successful. The weighted average yield for yesterday’s auction was 15.64 per cent lower than 15.79 per cent for the previous treasury bills floated on October 5 this year.

The one and three months offers received only three bidders each, but only one bid for each maturity were successful, while six for six month maturity 68 bids were tendered but only 48 were successful. For the one year maturity a total of 121 bids were successful out of 124 bids.
Market analysts say the oversubscription of the government securities indicated the increased investors’ appetite for short term debt instruments. However, things are different on government bonds, as all recently two floats were undersubscribed.
During the auction, the government accepted Tsh139.5, the offer amount.





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