Rejects bid for 3-year Treasury bond

May 27, 2015 11:19 AM

It seems the central bank rejected all offers because bids received were considered to be too high," an analyst who declined to be named told Reuters on Wednesday

A Mauritian man rides his motorbike past Mauritius' central bank in the capital in a file photo. REUTERS/Ed Harris

The Bank of Mauritius rejected all bids for its three-year Treasury bond at an auction on Wednesday, it said, with analysts citing the bids received were too high.

A similar bond fetched a yield of 2.76 percent at a previous sale on May 18. Offers for the re-opened bond that sought to raise 1.4 billion rupees ($40 million) came in at 2.780 billion rupees with bids ranging from 3.50 percent to 4.99 percent.

"It seems the central bank rejected all offers because bids received were considered to be too high," an analyst who declined to be named told Reuters on Wednesday.

The bond had a coupon rate of 2.46 percent.

($1 = 35.4100 Mauritius rupees)