25.10.2017

The Ministry of Finance has reopened an issue of 7.5-year BGN-denominated government securities (GS) maturing on 27 March 2025 which was launched on 27 September 2017. GS of BGN 85 million were offered successfully at the auction held on 23 October, the volume of the issue thus reaching BGN 170 million. The weighted average yield stood at 0.42 per cent, decreasing by 27 basis points in comparison with the issue’s first auction. The spread to the German Bunds in this maturity segment reported at the auction is 37 basis points, dropping by 26 basis points in comparison with the results from the previous auction.

The total subscribed amount reached BGN 188.25 million, which corresponds to a bid-to-cover ratio of 2.21. The biggest amount of GS was acquired by banks – 60.09%, followed by pension and guarantee funds – 28.15%, and other investors – 11.76%.