Yields on Bulgaria's 10-Yr T-Notes Rise to 6.12%

The issue was more than three times oversubscribed with bids totalling 96.6 million levs in par value at an average price of 83.09% of par, the Bulgarian National Bank (BNB) said in a statement.

The previous auction of 40 million levs of 10-year, fixed-rate Bulgarian government notes held in March, was over 2.2 times oversubscribed.

The Treasury notes auctioned on Monday were the fourth batch of an up to 250 million levs issue of 10-year T-notes the Finance Ministry plans to offer this year.

The issue bears an annual interest rate of 4.5%, with coupon payments due semi-annually and the last payment due at the maturity date of January 16, 2018.

Monday's auction produced a maximum offered yield of 6.30% and a minimum offered yield of 5.77%. The lowest accepted price was 88.11 levs and the highest accepted price - 91.51 levs.

The BNB auctions government securities on behalf of the Finance Ministry.

(1 euro = 1.95583 Bulgarian levs)