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Treasury bills are short-term securities issued with maturities ranging from three months to one year. Depending on the government's financial requirements, they can be issued either on a tap or tender basis. At present they are being issued on a tender basis. The Central Bank publishes a notice in the Seychelles Nation and on the Central Bank website prior to the subscription of a new issue stating the average interest rate and price of previous bills as indicators for interested buyers. Tenders are placed by filling a tender form and should be deposited in the tender box at the Central Bank before the closing date specified in the notice.