Bulgaria sells 102 mln euro of 3-yr T-notes at 3.44% yield

The government securities were placed at a weighted average annual yield of 3.44%, the Bulgarian National Bank (BNB) said in a statement on Monday.

The bonds bear an annual coupon of 3% and will mature on April 17, 2027.

In a separate statement, the finance ministry said that the largest share of the government debt, or 79.7%, was acquired by banks, followed by insurance companies with 8.7%, guarantee funds with 8.4%, pension funds with 3% and other investors with 0.2%.

"The spread reported as compared to analogous German Bunds is 91 basis points," the ministry said.

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

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

(1 euro = 1.95583 levs)