site.btaFinance Ministry Reopens 5-Year Issue of Government Securities at Weighted Average Yield of -15%

September 8 (BTA) - The Ministry of Finance reopened
Wednesday an issue of 5-year BGN-denominated government
securities (GS) maturing on February 24, 2026. Government
securities of an aggregate nominal value of 200 million leva
were offered successfully at the auction at a weighted average
yield of -0.15 per cent, the Ministry and the Bulgarian National
 Bank said.
 
The total subscribed amount reached 423.85 million leva, which
corresponds to a bid-to-cover ratio of 2.12. The spread reported
 as against the analogous German Bunds is 55 basis points.

The participants were highly interested, with the biggest amount
 of GS acquired by banks, 73.0 per cent, followed by insurance
companies with 16.5 per cent, pension funds with 3.0 per cent
and other investors with 7.5 per cent.

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The Governor of the Bulgarian National Bank, Dimitar Radev, has
been distinguished with the highest Grade A in the 26th annual
report grading of the prestigious Global Finance magazine, the
BNB said on Wednesday.
    
Radev has been included in the report grading Global Finance
began in 1994 for a fourth year in a row. The grading covers
central bankers from over 100 countries, BNB said.
   
"A" is the highest grade on a scale from F to A. Grades are
based on the results and success in such fields as control of
inflation, economic growth goals, currency stability and
interest management.
   
Radev was distinguished with the highest grade along with other
central bankers from across the world./RY/BR
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