With the bond sale attracting solid investor demand since the first day of the offering, September 14, Bulgaria priced the 10-year tranche at at 99.863 with a 0.375% coupon at a spread of 60 basis points over mid-swaps, yielding 0.389%, while the 30-year tranche was priced at 97.566 with a 1.375% coupon at 145 basis points over mid-swaps, yielding 1.476%, the finance ministry said in a statement.
The final orderbook reached 3.7 billion euro from 254 accounts on the 10-year, and 3.6 billion from 236 investors on the 30-year tranche, the ministry said, adding that demand came from all over Europe, with fund managers and banks dominating in both tranches.
Bulgaria's last dual-tranche issuance was in March, 2016.
The ministry also noted that the 10-year bond achieved the lowest coupon and yield for Bulgaria, whereas the 30-year tranche is the issue with the largest tenor that Bulgaria has placed.
Bulgaria currently has a "Baa2" issuer rating from Moody's and 'BBB' from both Fitch and Standard and Poor's.
($ = 0.841992 euro)