The government is seeking to raise MVR 1.26 billion from the domestic market through a new Treasury bill offering covering four different maturity periods.
The Ministry of Finance and Public Enterprises has invited subscriptions for bills with tenors of 28, 98, 182 and 364 days. The securities are scheduled for sale on 14 June, with settlement due on 15 June.
The largest portion of the offering is a 364-day bill valued at MVR 458.33 million, carrying an interest rate of 4.60 per cent. A further MVR 453.4 million is being offered through a 98-day bill at an interest rate of 3.87 per cent.
The government is also offering MVR 305 million through a 28-day bill at 3.50 per cent and MVR 40 million through a 182-day bill at 4.23 per cent.
The shortest security will mature on 13 July 2026, while the 98-day and 182-day bills will mature on 21 September and 14 December, respectively. The 364-day bill is due to mature on 14 June 2027.
Treasury bills are short-term government securities used to meet financing requirements and manage cash flow. The latest issue is weighted heavily towards the 98-day and 364-day instruments, which together account for more than 72 per cent of the total amount offered.
