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THE MINISTRY OF FINANCE HAS REOPENED A 4-YEAR GS ISSUE AT A RECORD LOW YIELD

23.06.2017

The Ministry of Finance has reopened an issue of 4-year BGN-denominated government securities (GS) maturing on 22 February 2021. GS to the amount of BGN 50 million were successfully placed at the auction held on 19 June at a weighted average yield of 0.05 per cent - the lowest yield for interest bearing GS up to now. The subscribed amount totalled BGN 103.00 million, which corresponds to a bid-to-cover ratio of 2.06. The spread to the German Bunds in this segment is 59 basis points.

Banks acquired the biggest amount of GS at the auction, i.e. 79,60 %, followed by pension funds with 10.40 %. Other investors acquired a total of 10 %.