site.btaFinance Ministry Reopens Issue of Six-Year Government Securities

Bulgaria's Finance Ministry Monday said it has reopened an issue of six-year BGN-denominated government securities, put into circulation at an auction of April 13, 2024. The maturity date of the issue is April 15, 2030, and the coupon is fixed at 3.25%, paid annually.

The volume of the issue in circulation was increased by BGN 200 million at the June 10 auction, thus reaching BGN 400 million at nominal value. The government securities have a weighted annual average yield of 3.54 %.

The bids placed amounted to BGN 265.2 million, which corresponds to a coverage coefficient of 1.33. The reported spread to the analogous German Bunds is 100 basis points.

The largest share of government securities (70.2%) was acquired by banks, followed by insurance companies (16.5%), pension funds (10.0%), contractual and guarantee funds (3.0%), investment intermediaries (0.2%), and other investors (0.1%).