The Maldives government has announced a series of new Treasury Bills on sale.
In an invitation to subscribe published by late June 2023, the Maldives government offered four specific Treasury Bills (T-Bills) with differing maturity dates.
While the sale date of the T-Bills were July 2, 2023, Sunday with settlement date falling on next day, July 3, 2023.
The T-Bills offered include;
- TBT28-2023-3107 | Offered Amount: MVR 1,013,000,000.00 | 3.50% IR | 28 Days Maturity | July 31, 2023 – Maturity Date
- TBT98-2023-0910 | Offered Amount: MVR 301,000,000.00 | 3.87% IR | 98 Days Maturity | October 09, 2023 – Maturity Date
- TBT183-2024-0201 | Offered Amount: MVR 110,000,000.00 | 4.23% IR | 183 Days Maturity | January 02, 2024 – Maturity Date
- TBT364-2024-0107 | Offered Amount: MVR 2,499,511,000.00 | 4.60% IR | 364 Days Maturity | July 01, 2024 – Maturity Date
The state further noted that all subscriptions for MVR Treasury Bills should be made in accordance with the terms and conditions of the Prospectus for Treasury Bills, and any other rules as published by the Ministry of Finance.
The ministry also asserted that the MVR Treasury Bills must be paid for in full on the settlement date.
The total offered amount of T-Bills is MVR 3,923.51 million.
Treasury Bills or T-Bills are issued in accordance with the Prospectus for Treasury Bills Tap and the Prospectus for Treasury Bills Auction. The bills are sold at a discount, where each T-Bill carries a face value of MVR 10,000 and all subscriptions for T-Bills are in minimum and multiples of 10 T-Bills.