Ministry of Finance Reopens Issue of 20-year Government Securities


On 22 July 2019 the Ministry of Finance reopened an issue of 20-year BGN-denominated government securities (GS) placed on 21 June 2019 and maturing on 21 June 2039.

GS of an aggregate nominal value of BGN 200 million were offered successfully at the auction at a weighted average yield of 1.52%. The total subscribed amount reached BGN 282.73 million, which corresponds to a bid-to-cover ratio of 1.41.

The spread reported to the analogous German Bunds is 147 basis points. The participants were highly interested, with the biggest amount of GS acquired by banks – 40%, followed by insurance companies with 26%, pension and guarantee funds with 23%, investment intermediaries with 1%, and other investors with 10%.

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