06.01.2014

The Ministry of Finance successfully placed 6-month Government Securities (GS) with nominal value BGN 400 million. At the auction held on 6 January 2014 the yield achieved at maturity of the issue on 8 July 2014 is 0.3%, while the annual yield - 0.60%. The total amount subscribed reached BGN 810.4 million, the coverage coefficient being 2.03.

The participants showed strong interest both in the amount offered for competition orders and in the portion of non-competition orders determined for allocation among investors. The biggest amount of GS acquired banks - 66.85%, followed by guarantee funds - 15.08%, pension funds - 12.12% and other investors - 5.96%.

The yield achieved is below that at auctions of short term securities with similar maturities of a number of EU Member States and countries from the region - Greece (4.15%), Romania (2.78%), Slovenia (1.41%), Croatia (1.2%), Italy (0.82%) and Spain (0.69%).