site.btaFinance Ministry Raises BGN 200 Mln in Securities

Bulgaria's Finance Ministry Monday said it has reopened an issue of three-year BGN-denominated government securities, put into circulation at an auction of April 15, 2024. The maturity date of the issue is April 17, 2027, and the coupon is fixed at 3%, paid annually.

The volume of the issue in circulation was increased by BGN 200 million at the June 24 auction, thus reaching BGN 700 million at nominal value. The government securities have a weighted annual average yield of 3.44 %.

The bids placed amounted to BGN 219.6 million, which corresponds to a coverage coefficient of 1.10. The reported spread to the analogous German Bunds is 91 basis points.

This has been the fifth auction since April 15, which the Bulgarian National Bank holds at the request of the Finance Ministry, placing securities, totalling BGN 1.1 billion.