US Treasury Department offering $96 billion in securities to refund $75.2 billion privately-held notes

By Ovunc Kutlu

ISTANBUL (AA) - The US Treasury Department announced Wednesday it is offering $96 billion in securities to refund approximately $75.2 billion of privately-held Treasury notes maturing May 15.

"This issuance will raise new cash from private investors of approximately $20.8 billion," it said in a statement.

The securities offered include a 3-year note in the amount of $40 billion maturing May 15, 2026; a 10-year note in the amount of $35 billion, maturing May 15, 2033 and a 30-year bond in the amount of $21 billion, maturing May 15, 2053.

While the agency said it believes the current issuance sizes leave it well-positioned for near-term borrowing needs, it may, however, may need to modestly increase auction sizes later this year, based on projected intermediate- and long-term borrowing needs.