site.btaFinance Ministry Sells 6-year Government Securities for BGN 200 Million

The Ministry of Finance has reopened a six-year government bond issue that was put into circulation at the auction held on May 13, 2024. The issue is denominated in BGN, with a maturity date of May 15, 2030 and an annual interest coupon of 3.25%, the Ministry and the Bulgarian National Bank said on Tuesday.

The volume of the issue in circulation was increased by BGN 200 million at the auction held on July 8, bringing the nominal value to BGN 600 million. The weighted average annual yield on the reopening of the issue was 3.82%.

The total amount of orders placed amounted to BGN 259.4 million, corresponding to a coverage ratio of 1.3. The reported spread over similar German federal bonds amounted to 132 basis points. On the participants' side, banks acquired the largest amount of government securities at the auction - 79.9%, followed by insurance companies - 10.2%, pension funds - 9.5%, investment firms - 0.3% and other investors - 0.1%.