April 16 (SeeNews) - Bulgaria raised 200 million levs ($109 million/102.3 million euro) from the sale of three-year fixed-rate Treasury bonds at an auction held on Monday, the central bank said.
The government securities were placed at a weighted average annual yield of 3.01%, the Bulgarian National Bank (BNB) said in a statement on Monday.
The new issue of T-bonds, which will mature on April 17, 2027, carries an annual coupon of 3.00%, with payments due semi-annually.
In a separate statement, the finance ministry said that the largest share of new government debt, or 46%, was acquired by banks, followed by other investors with 29%, pension funds with 11%, insurance companies with 8% and guarantee funds with 6%.
"The spread reported as compared to analogous German Bunds is 45 basis points," the ministry noted.
The finance ministry will offer additional amounts of bonds from this issue in the future, BNB said.
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 |
512.5 |
- competitive |
390.5 |
- non-competitive |
122.0 |
Nominal value of bids approved |
200.0 |
- competitive |
100.0 |
- non-competitive |
100.0 |
Weighted average annual yield, pct |
3.01 |
Annual interest rate, pct |
3.00 |
Bid-to-cover ratio |
2.56 |
(1 euro = 1.95583 levs)