site.btaFinance Ministry Auctions Off Government Securities Worth BGN 100 Mln Next Week

The Finance Ministry will auction off government securities of an aggregate nominal value of BGN 100 million on March 10, the Bulgarian National Bank said on its website Tuesday. The three-year government securities are open-ended and with a fixed interest rate of 2.75% a year.

This will be the fifth auction for the placement of new debt in 2025. Since the beginning of the year, debt worth a total of BGN 800 million has been issued through two auctions in January and two in February, shows a check on the Finance Ministry's website. The average annual yields achieved on debt issued on the domestic market since the beginning of 2025 were 2.90% and 2.76%, respectively, for three-year government securities placed, and 3.47% and 3.31% for the two auctions for the sale of seven-year securities.

Primary dealers can participate in the March 10 auction with competing orders, both on their own behalf and for their own account, and on their own behalf but for the account of their clients, the auction terms say.

Primary dealers may also participate in the auction with non-competitive orders on their own behalf but for the account of their clients who are not banks or investment firms, including those established in another Member State or in a third country.

The maximum amount of government securities that a participant may acquire by means of competing orders shall be 50% of the amount to be sold by means of competing orders.

The ratio of government securities offered by competitive and non-competitive bidding shall be 50% to 50% of the total amount offered.

Bidders should note that the Treasury will offer for sale additional quantities of issue BG 20 300 25 113 from January 22, 2025.

The Ministry of Finance reserves the right to reject all, respectively approve certain orders, as well as to approve a quantity different from the previously announced one, the press release reads.