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Ministry of Finance Reopens Issue of 20-year Government Securities

08.10.2019

On 7 October 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 69.18 million were offered at the auction at a weighted average yield of 1.38%. The total subscribed amount reached BGN 132.25 million, which corresponds to a bid-to-cover ratio of 1.39.

The spread reported to the analogous German Bunds is 170 basis points. The allocation of the earned volume of GS by type of investors was as follows: the biggest amount of GS was acquired by banks - 41.2%, followed by pension and guarantee funds – 34%, insurance companies – 20.2% and other investors – 4.6%.

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