November 17 (SeeNews) - Bulgaria's five-year Treasury notes yielded an average weighted 3.86% at the latest auction of 35 million levs ($26.6 million/1.8 million euro) of government securities, the central bank said on Tuesday.
The central bank also said it will auction 20 million levs of five-year T-notes on November 23. The T-notes will carry a fixed annual coupon of 4.0%.
The issue, auctioned on Monday, was more than twice oversubscribed as dealers placed bids for 72.6 million levs of five-year T-notes, the central bank, which auctions the government securities on behalf of the finance ministry, said in a statement.
The issue carries an annual coupon of 3.0%, payable semi-annually. The issue produced a maximum yield of 3.96% and a minimum yield of 3.63%. The government securities were sold at 99.06% of par.
Monday's issue was the seventh batch of five-year T-notes offered by the Finance Ministry so far this year. It has planned to offer 250 million to 350 million levs in five-year T-notes this year.
The previous, sixth, five-year T-note issue, placed on October 28, produced an average weighted yield of 5.1%, up from 3.74% in the fifth 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 yielded 6.87%.
The second batch, auctioned in May, was slightly oversubscribed and yielded 5.74%, down from 6.35% in the first auction held in February. The first batch of the issue was 2.6 times oversubscribed.
(1 euro = 1.95583 Bulgarian levs)