TIRANA, Sept 2 /ATA/ - The yield on Albania’s 20-year government bond rose to 6.54% at a reopening auction on Tuesday, up from 6.50% at the bond’s initial sale in May, as the government raised 1.725 billion leks.

The bond, which matures on May 6, 2046, attracted 40 competitive bids worth a combined 3.017 billion leks, according to data from the Bank of Albania.

Demand was more than double the 1.5 billion leks amount initially put up for sale, allowing the Finance Ministry to increase the amount issued. Twenty-three of the competitive bids were accepted.

Yields sought by investors ranged from 6% to 7.20%, with the weighted accepted yield set at 6.54%.

The higher yield points to a modest increase in the government’s borrowing cost for its longest-maturity domestic debt instrument.

The auction nevertheless showed continued investor appetite for Albania’s long-term government securities, with demand remaining well above the amount initially offered.

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