September 14 (SeeNews) - Bulgaria will seek to raise 2.05 billion levs ($1.04 billion/ 1.04 billion euro) through Treasury bond issuances on the domestic market in the next 12 weeks, the finance ministry said.
Bulgaria has borrowed 1.8 billion levs on the domestic market in the year to date, the ministry said in a statement on Tuesday.
The government will offer ten-and-a-half-year and five-and-a-half year T-bond issues maturing in 2026, 2028 and 2033 in the period from September 19 to December 12, according to the finance ministry's issuance schedule.
On Tuesday, the central bank announced September 19 as the date for the first auction of ten-and-a-half-year fixed-rate Treasury bonds under the debt issuance programme, in a bid by the caretaker government to raise 200 million levs.
The next auction, of 200 million levs worth of five-and-a-half year treasury bonds due March 28, 2028, is planned for September 26, according to the finance ministry's programme.
Bulgaria intends to raise a further 750 million levs via four government paper auctions in October, followed by a total of six in November and December for an indicative aggregate amount of 900 million levs.
The limit on new government debt for the current year was raised to 10.3 billion levs from 7.3 billion levs in the budget revision passed by parliament in July.
(1 euro = 1.95583 levs)