15.09.2015

The Ministry of Finance reopened a 5-year issue of Government Securities (GS) with maturity 4 February 2020. Securities with nominal value of BGN 100 million were offered at the auction held on 14 September 2015 . The annual average weighted yield achieved was 0.94%. For comparison, the yield achieved at the previous auction on 18 May 2015 for the same issue was 1.28%. The participants showed high interest in the auction and the subscription totalled BGN 197.50 million, the bid-to-cover ratio being 1.98.

The spread to the benchmark German Bunds in this segment is 92 b.p.

Banks acquired the biggest amount of GS at the auction, i.e. 64.30%, followed by pension funds with 9.50%, insurance companies with 8.20%, guarantee and contractual funds with 7.00% and other investors with 11.00%.