Unique CBI Auction - 4 June 2015

[ronscarpa]

I think this is a "Bond Type" of Auction...it's almost a week old (23 June) but interesting and something to think about: RON ........ The Title date is wrong...not 4 June


CBI Auctions

The Central Bank of Iraq issues CBI bills and has adopted a mechanism that will be applied periodically. The results will be announced at 11 am after the closing time of the auction which is at 10 am.

Announcement Number (C139 )23-06-2015

The auction No. C139 for Central Bank of Iraq bills based on a uniform price auction for IQD 200,000,000,000.000 par value for the bills concluded on 23-06-2015.

The total public bidding is IQD 339,140,000,000.000 and the cut-off yield (the highest yield of the  successful bidder) determined by the auction was 4.90%.



DETAILS (AMOUNT IN IRAQI DINARS)      NOTES

Securities Offered---------------------------- Discount
Total Offering-------------------------------- 200,000,000,000.000
Total Public Bidding-------------------------- 339,140,000,000.000
Pricing---------------------------------------- Multiple
Term of Security (days)--------------------- 91
Settlement Date----------------------------- 24-06-2015
Maturity Date-------------------------------- 23-09-2015
Competitive Bidders------------------------- 6
Winning Bidder------------------------------- 6
Total Valid Competitive Bids---------------- 339,140,000,000.000
Total competitive Bids Awarded------------ 200,030,000,000.000
Range of Yields for Valid Competitive Bids [4.20%-5.00%]
Cutoff Yield (%)----------------------------- 4.90
Average Competitive Yield----------------- 4.78
Bids Received as % of Amount Offered--- 169.57

Edited June 29, 2015 by ronscarpa

[EagleEye]

Ron $400B ?????

[tlars brother]

these are the same 90 days notes that have been allowed to sell for quite some time.  these have nothing to do with the international bond sales that will occur post new monetary value

[Carrello]

I agree tlars brother. These auctions have been going on for years.

[sandfly]

THANKS