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THE MINISTRY OF FINANCE HAS REOPENED A 7.5-YEAR ISSUE OF GOVERNMENT SECURITIES

05.12.2017

The Ministry of Finance has reopened an issue of 7.5-year BGN-denominated government securities (GS) maturing on 27 March 2025, which was placed on 27 September 2017. GS to the amount of BGN 80 million were successfully placed at the auction held on 4 December, whereby the issue volume reached BGN 250 million. The weighted average yield was 0.36 per cent, decreasing by 6 basis points as compared to the previous auction for this issue. The spread to the German Bunds in this segment, recorded at the auction, is 37 basis points, maintaining its level from the previous auction.

The subscribed amount totalled BGN 138.00 million, which corresponds to a bid-to-cover ratio of 1.73. Banks acquired the biggest amount of GS at the auction, i.e. 52,64 %, followed by pension funds with 26.06 % and guarantee funds with 21.30 %.