September 27 (SeeNews) - Bulgaria raised 149.95 million levs ($73.9 million/76.7 million euro) from the sale of five-and-a-half-year fixed-rate Treasury bonds, below its target of 200 million levs, the central bank said on Tuesday.
The government securities were placed at a weighted average annual yield of 4.13% in Monday's auction, the Bulgarian National Bank (BNB) said in a statement.
The new issue of T-bonds carries an annual coupon of 3.20% and will mature on March 28, 2028.
Last week, Bulgaria reopened a ten-and-a-half year T-bond issue, raising 200 million levs and achieving an average weighted annual yield of 3.01%.
"The spread reported as against the analogous German Bunds is 223 basis points," the ministry noted.
In a separate statement, the finance ministry said that the largest share of new government debt, 81.3%, was acquired by banks, followed by pension funds – 9.3%, insurance companies – 6.7%, guarantee funds – 2.0% and investment intermediaries – 0.7%.
Last week, Bulgaria also issued a dual-tranche Eurobond worth 2.25 billion euro ($2.16 billion).
Earlier this month, the finance ministry announced that Bulgaria will seek to raise 2.05 billion levs through T-bond issuances on the domestic market until the end of 2022.
Details of Monday's T0bond auction follow (in millions of levs unless otherwise specified):
Nominal value of offered securities |
200.0 |
Nominal value of bids admitted for participation |
203.85 |
- competitive |
182.85 |
- non-competitive |
21.0 |
Nominal value of bids approved |
149.95 |
- competitive |
128.95 |
- non-competitive |
21.0 |
Weighted average annual yield, pct |
4.13 |
Annual interest rate, pct |
3.20 |
Bid-to-cover ratio |
1.02 |
(1 euro = 1.95583 levs)
($ = 1.03805 euro)