Yields on Bulgaria's 5-Yr T-Notes Rise to 4.9%

Dealers had placed bids for 54 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 4.45%, payable semi-annually. The issue produced a maximum yield of 5.03% and a minimum yield of 4.66%. The government securities were sold at 98.52% of par.

Monday's issue was the tenth 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 in 2009.

The previous batch, worth 30 million levs, was sold out last Monday. It produced an average yield of 4.1%, down from 4.17% in the previous auction held on November 23.

(1 euro = 1.95583 Bulgarian levs)