20.01.2025

On 20 January 2025 the Ministry of Finance launched its issuance programme by putting into circulation a new issue of 3-year BGN-denominated GS maturing on 22 January 2028, with an annual interest coupon of 2.75%.

GS of an aggregate nominal value of BGN 300 million were offered successfully at the auction at a weighted average yield of 2.90%. The total subscribed amount reached BGN 454.9 million, which corresponds to a bid-to-cover ratio of 1.52. The spread reported as against the analogous German Bunds is 74 basis points.

The participants were highly interested, with the biggest amount of GS acquired by banks – 71%, followed by guarantee funds with 10%, insurance companies with 7%, pension funds with 5% and other investors with 7%.