On the Roll

Treasury bond auctions on Thursday for three and four year bonds bring in over Rs 4 bn each. Treasury bond auctions on Thursday for three and four year bonds bring in over Rs 4 bn each. At the Treasury bond auctions held on Thursday bonds maturing in 2007 and 2008 were offered to the market.

These were the 2007 "F" Series with a coupon rate of 11.

75 percent p. a. and the 2008 "A" Series with a coupon rate of 7.70 percent p. a.

Both auctions were over-subscribed substantially with three year bonds bringing in Rs.

4.3 bn and four year bonds netting Rs.

4.5 bn, said the Central Bank on Friday.

The Treasury Bond Tender Committee accepted Rs.

1.5 bn of three year maturity at the weighted average yield rate (WAYR) of 8.

60 percent p.a. and Rs. 1.95 bn of four year maturity at the WAYR of 8.75 percent p.a.

The previous auction for the three year maturity was held on September 27 this year and accepted at the WAYR of 8.60 percent p.a.

The last auction for four year maturity was held on October 05 this year and accepted at the WAYR of 8.

75 percent p.a.

This week yield rat