site.btaFinance Ministry Reopens 4-Year Government Securities at Negative Yield

Sofia, November 14 (BTA) - An issue of 4-year government securities maturing on February 22, 2021 was reopened at a November 13 auction, the Finance Ministry reported. For the first time, the annual average weighted yield achieved at the auction was in negative territory, at minus 0.19 per cent.

The total value of the securities offered was 30 million leva and the subscribed amount was 63.38 million leva, putting the bid-to-cover ratio at 2.11.

Banks acquired the largest share (86.67 per cent) of the government securities at the auction. The remainder was acquired by guarantee funds, the Finance Ministry said.