site.btaBGN 300 Mln Government Bond Issue to Be Auctioned on January 20

An auction will be held on January 20 for an issue of three-year open-ended treasury bonds at a fixed interest, the Bulgarian National Bank said on Friday. The nominal value of the bond issue is BGN 300 million. The settlement date is January 22, 2025, and the maturity date is January 22, 2028. The coupon is 2.75% per year, payable semi-annually.

This will be the first auction for Bulgarian government securities in 2025.

By decision of the Ministry of Finance, primary dealers may participate in this auction with competitive bids on their own behalf and for their own account, or on their own behalf and for the account of their clients.

Also, primary dealers may participate in the auction with noncompetitive bids on their own behalf and for the account of their clients other than banks or investment intermediaries, including those established in another EU member state or in a third country.

The competitive/non-competitive bids ratio is 50/50. The maximum amount of bonds which a participant may acquire through competitive bids is 50% of the amount earmarked for sale through competitive bids.

The Ministry of Finance retains its right to reject any bids, respectively approve certain bids, as well as approve an amount, which differs from the initially announced amount.