6-Month T-bill BS23110X (25 May 2023) Cut-Off Yield 3.85%

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25 May 2023

This issue offers investors a cut-off yield of 3.85% p.a., higher than that (3.78% p.a.) of the previous issue, BS23109E (11 May 2023).

The total value of applications in this auction was $12.2B, representing a bid-to-cover ratio of 2.30. This is higher than the $12.0B (bid-to-cover ratio 2.39) received in the previous issue.

Those who submitted non-competitive bids were fully allotted. On the other hand, those who submitted competitive bid at 3.85% get around 2.23% of the amount applied.

Auction Closed

Announcement Date
18 May 2023 Notify me
Auction Date
25 May 2023 Notify me
Issue Date
30 May 2023
Maturity Date
28 Nov 2023
Issue Code
BS23110X
ISIN Code
SGXZ89109110
Cut-Off Yield
3.85% p.a.
Cut-Off Price
98.080
Median Yield
3.60% p.a.
Median Price
98.205
Average Yield
3.15% p.a.
Average Price
98.429
Total Amount Offered
$5,300,000,000
Amount Allotted to Non-Competitive Applications
$1,446,207,000
Total Amount Applied
$12,181,284,000
% of Competitive Applications at Cut-off Allotted
2.23%
% of Non-Competitive Applications Allotted
100.00%
Bid-to-Cover Ratio
2.30

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