November 9 (SeeNews) - Bulgaria's central bank said it will auction 35 million levs ($26.8 million/17.9 million euro) worth of five-year government treasury notes on November 16.
The issue bears an annual coupon of 3.0%, payable semi-annually, the central bank, which auctions the government securities on behalf of the Finance Ministry, said in a statement on its website.
Monday's issue will be the seventh batch of five-year T-notes of 250 million to 350 million levs in total to be offered by the Finance Ministry this year.
The last five-year T-note issue, placed on October 28, produced an average weighted yield of 5.1%, up from 3.74% in the previous auction held earlier that month.
The fourth batch auctioned in July was almost 1.5 times oversubscribed and produced a weighted average yield of 6.23%.
The third batch, auctioned in June, was slightly undersubscribed and produced a 6.87% yield.
The second batch, auctioned in May, was slightly oversubscribed and produced a 5.74% yield, compared to 6.35% in the previous auction held in February. The first batch of the issue was 2.6 times oversubscribed.
(1 euro = 1.95583 Bulgarian levs)