Bulgaria’s Finance Ministry Boasts Successful Placement of 5-Year BGN-Denominated Govt Securities

Bulgaria’s Finance Ministry reopened Monday the 5-year issue of Government Securities (GS) issued on February 4, 2015 maturing on February 4, 2020.

At the auction held on May 18 GS to the amount of BGN 50 million were successfully placed, with the average weighted yield being 1,28%, according to a media statement of the Finance Ministry.

The subscription totaled BGN 115,25 million, the bid-to-cover ratio being 2,31.

The spread to the benchmark German Bunds in this segment is 120 b.p.

The participants showed strong interest in the auction, with the biggest amount of GS acquired by banks - 80,40%, followed by pension funds - 7,60%, guarantee and contractual funds- 7,00%, and insurance companies - 5,00%.

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