Kuwait, June 24 (QNA) - The Central Bank of Kuwait (CBK) announced the issuance of Treasury bills and public debt tawarruq with a total value of KWD 550 million (approximately USD 1.8 billion), distributed across four issuances in terms of maturity, value, and yield.

In a statement on Wednesday, the bank outlined that the total value of the first issuance amounted to KWD 150 million (approximately USD 495 million) for a two-year term, through a uniform competitive auction with a yield of 2.750%, noting that the coverage ratio for the issuance reached 3.47 times, with total bids submitted amounting to KWD 520.2 million.

The total value of the second issuance amounted to KWD 250 million (approximately USD 825 million) for a three-year term, through a uniform competitive auction with a yield of 2.700%, the statement reads.

It indicated that the coverage ratio for the issuance reached 2.96 times, with total bids submitted amounting to KWD 739 million.

Meanwhile, the total value of the third issuance amounted to KWD 100 million (approximately USD 330 million) for a five-year term, through a uniform competitive auction with a yield of 3.250%, while the coverage ratio for the issuance reached 3.06 times, with total bids submitted amounting to KWD 305.5 million.

The statement further noted that the total value of the fourth issuance amounted to KWD 50 million (approximately USD 165 million) for a seven-year term, through a uniform competitive auction with a yield of 3.125%, and its coverage ratio reached 3.80 times, with total bids submitted amounting to KWD 190 million. (QNA)