BANK OF FRANCE SELLS 1.6 BILLION FRANCS CRH TAP
The Bank of France sold 1.6 billion
francs of 8.50 pct March 1987/99 Caisse de Refinancement
Hypothecaire (CRH) state-guaranteed tap stock at an auction,
the Bank said.
    Demand totalled 6.82 billion francs and prices bid ranged
from 93.50 to 96.60 pct. The minimum accepted price was 95.50
pct with a 9.13 pct yield, while the average price was 95.69.
    At the last auction on February 19, two billion francs of
CRH tap stock was sold at a minimum price of 91.50 pct and
yield of 9.73 pct.
 REUTER
