SOFIA (Bulgaria), June 7 (SeeNews) – Bulgaria's three-and-a half-year fixed-rate Treasury notes produced an average weighted annual yield of 3.54% in Monday’s auction, up from 3.51% achieved in the previous auction, the central bank said.
Dealers placed bids for 87.7 million levs ($65.5 million/44.8 million euro) worth of government debt paper against an offer of 50 million levs, the central bank, which auctions government securities on behalf of the finance ministry, said in a statement on its website.
The average weighted price of the approved bids was 99.67 levs per 100.0 levs of par value.
The issue, which matures on June 22, 2014 and carries an annual coupon of 3.45%, produced a maximum annual yield of 3.60% and a minimum yield of 3.47%.
The finance ministry plans to issue up to 1.0 billion levs in Treasury paper this year, up from the 2010 target of 740 million levs.
(1 euro=1.95583 Bulgarian levs)