July 18 (SeeNews) - Bulgaria's finance ministry said on Tuesday it sold 89.5 million levs ($52.8 million/45.8 million euro) in 10.5-year Treasury bonds, below its target of 100 million levs.
The average weighted yield on the issue maturing in July 2027 decreased to 1.63% in Monday's auction, from 1.78% in the previous auction of like government securities held in May, according to the ministry's statement.
Details follow (in millions of levs):
Auction date |
July 17, 2017 |
May 15, 2017 |
Maturity date |
July 25, 2027 |
July 25, 2027 |
Amount offered (mln levs) |
100 |
100 |
Amount sold (mln levs) |
89.5 |
100 |
Total bids placed (mln levs) |
201.8 |
147.1 |
Bid-to-cover ratio |
2.02 |
1.47 |
Average weighted yield |
1.63 |
1.78 |
Source: Ministry of Finance
As much as 58.10% of the government paper was bought by pension funds, followed by the insurance companies with a 41.34% share and banks with 0.56%.
(1 euro = 1.95583 levs)