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Bulgaria sells 102 mln euro of 2030 bonds at 3.82% yield

Jul 9, 2024, 12:05:11 PMArticle by Mihaela Miteva
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July 9 (SeeNews) - Bulgaria's finance ministry raised 200 million levs ($110.8 million/102.3 million euro) by reopening an issue of six-year fixed-rate Treasury bonds, the central bank said on Tuesday.

Bulgaria sells 102 mln euro of 2030 bonds at 3.82% yield
Image source: Victor Lauer on Shutterstock

The government securities were placed at a weighted average annual yield of 3.82%, the Bulgarian National Bank (BNB) said in a statement.

The T-bonds have an annual coupon of 3.25% and will mature on May 15, 2030.

Banks acquired 79.9% of the new government debt, followed by insurance companies with 10.2%, pension funds with 9.5%, investment intermediaries with 0.3% and other investors with 0.1%, the finance ministry said in a separate statement.

"The reported spread as compared to analogous German Bunds is 132 basis points," the ministry noted.

The finance ministry will offer additional amounts of bonds from this issue in the future, the BNB said.

At the previous auction of the same issue held in June, the finance ministry sold 200 million levs worth of T-notes at a weighted average annual yield of 3.54%.

Details of Monday's T-bond auction follow (in millions of levs unless otherwise specified):

Nominal value of offered securities 200.0
Nominal value of bids admitted for participation 259.37
- competitive 236.75
- non-competitive 22.62
Nominal value of bids approved 200.0
- competitive 177.38
- non-competitive 22.62
Weighted average annual yield, pct 3.82
Annual interest rate, pct 3.25
Bid-to-cover ratio 1.30

(1 euro = 1.95583 levs)

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