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MINISTRY OF FINANCE REOPENS ISSUE OF 4-YEAR GOVERNMENT SECURITIES

24.04.2017

The Ministry of Finance has reopened an issue of 4-year BGN-denominated government securities (GS) maturing on 22 February 2021. GS of BGN 60 million were offered successfully at the auction held on 24 April at a weighted average yield of 0.11 per cent which has been the lowest so far for interest-bearing GS. The subscribed amount reached BGN 149.35 million, which corresponds to a bid-to-cover ratio of 2.49. The spread to the German Bunds in this maturity segment dropped from 80 down to 61 basis points as against the previous issue.

The biggest amount of GS was acquired by banks - 47.00%, followed by pension funds - 36.33%, and guarantee funds - 16.67%.