25.03.2013

The Ministry of Finance reopened for a third time a 5-year BGN denominated bond with maturity 23.01.2018. At the auction held on 25.03.2013 the yield achieved was 2.29 %. The coverage coefficient reached 2.16, the amount offered for sale being BGN 50 million. All GS primary dealers took part in the auction, the banks acquiring 88.70% of the approved amount, pension funds - 4.30%, insurance companies - 1% and other institutional investors - 6 %. After the last auction the issue totals BGN 135 million.

The yield achieved is lower than that of bonds with similar maturity of states such as Turkey (6.69%), Hungary (5.57%), Slovenia (5.26%), Croatia (4.25%), Romania (3.74%), Spain (3.57%), Italy (3.29%), Ireland (3.04%), etc. The auction result is indicative of the stable demand of market participants in sovereign securities offered on the domestic market.