The Ministry of Finance did not approve the subscriptions at the auction for the sale of 10.5-year government securities
09.03.2021
On 8 March 2021 the Ministry of Finance held an auction for the sale of 10.5-year government securities to the amount of BGN 200 million, maturing on 17.08.2031. Market participants subscribed an aggregate nominal value of BGN 353.55 million, the bid-to-cover ratio being 1.77.
The Ministry of Finance did not approve the subscriptions, taking into account the state of the fisc and the available fiscal reserve, as well as the purpose for financing at an optimal possible price.
The Ministry of Finance will continue its balanced and flexible policy on the management of the government debt which is one of the lowest in the European Union, having in mind both the market situation and the need for debt financing.