Czechs buy retail bonds worth Kc12.3bn within Christmas issue

Budova ministerstva financí - odraz v zrcadle v Letenské ulici.

published: 12.12.2013, 14:29 | updated: 12.12.2013 14:38:32

Prague - Czechs bought retail bonds worth almost Kc21.3bn within the Christmas issue made by Finance Ministry today, ministry spokesman Ondrej Sramek told CTK.

Total orders had amounted to Kc21.4bn.

The ministry started offering the bonds on November 4 and ended the subscription period on November 7, though the original deadline was set for November 29.

The ministry planned to sell bonds worth Kc5bn up to Kc10bn. This is also why it shortened the subscription period.

"Considering the fact that a discount government retail bond of a total nominal value of Kc7.5bn will be paid at the same time and a part of these orders may not be paid for by all the subscribers, the originally set limit of the Christmas series of issues was not exceeded significantly," Finance Ministry spokesman Ondrej Sramek said earlier.

The Finance Ministry has achieved its target which this year reckoned with the sale of retail bonds worth Kc20bn to Kc40bn.

In spring the ministry sold bonds worth Kc17.6bn, while orders stood at Kc19.9bn.

People were mainly interested in 3-year premium bonds with annual average yield before taxes of 2.3 percent. They bought nearly Kc11bn worth of these bonds.

Investors could also buy 5-year coupon bonds with annual yield of 2.73 percent, 5-year reinvesting bonds with yield of 2.98 percent, and 7-year anti-inflation bonds, whose yield depends on the rate of inflation. The ministry at the same time introduced real yield of 0.5 percent annually for the last bond.

The bonds were available for both Czech citizens and foreigners as well as for civic associations, foundations, churches, foreign non-profit organisations, regional governments, municipalities and public universities.

Sales of bonds within individual issues:

IssueVolume (Kc bn)
Pilot, autumn 201120.4
Spring 201215.3
Christmas 201230
Spring 201317.6
Christmas 201321.3



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