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Ministry of Finance Launches New Issue of 5-Year GS at Negative Annual Yield

22.02.2021

On 22 February 2021 the Ministry of Finance launched a new issue of 5-year BGN-denominated government securities (GS) maturing on 24 February 2026.

GS of an aggregate nominal value of BGN 200 million were offered successfully at the auction at a weighted average yield of -0.17%.

The total subscribed amount reached BGN 420.40 million, which corresponds to a bid-to-cover ratio of 2.1. The spread reported as against the analogous German Bunds is 45 basis points. The participants were highly interested, with the biggest amount of GS acquired by banks – 63%, followed by insurance companies with 24%, pension funds with 8% and other investors with 5%.

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