September 3 (SeeNews) - Bulgaria will auction 15 million levs ($11 million/7.7 million euro) worth of three-month Treasury bills on Monday.
Eighty-five percent of the offer will be set aside for price-competitive bids, with the rest earmarked for non-competitive bids, the central bank which auctions the government papers on behalf of the Finance Ministry, said in a statement.
Primary dealers can place up to 30 competitive bids in the auction. A single competitive bidder can buy up to 15% of the total par value on offer.
The T-bills will mature on December 9.
The previous three-month T-bills issue auctioned in June slightly oversubscribed and produced an average annual yield of 4.43%, down from 4.55% in the previous action held in March.
The Monday issue is the third batch of the combined 40-50 million levs of three-month treasury bills the minsitry plans to auction this year.
($ = 1.95583 Bulgarian levs)