We advised the Estonian Ministry of Finance on drafting documents for Estonia’s short-term T-bill programme

Ellex Raidla’s Partner Raino Paron advised the Ministry of Finance of the Republic of Estonia in connection with drafting the documents for Estonia’s short-term treasury bill programme.
On Monday, for the first time ever, the State Treasury of Estonia sold €200 million worth of treasury bills with a negative yield at auction. Participators in the auction included LHV, Luminor, SEB and Swedbank.
The Ministry of Finance confirmed the framework for the issuance of treasury bills for cash management purposes in April this year, which, if necessary, will allow the Treasury to use bonds with a maturity of up to one year. Compared to standby loans issued by banks, treasury bills provide a more affordable supplementary instrument for cash management.
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