14.05.2024

The Ministry of Finance has launched a new issue of 6-year BGN-denominated government securities (GS) maturing on 15 May 2030 with an interest coupon of 3.25%. This is the second GS auction of the year after the resumption of the issuance policy on 15 April 2024.

GS of an aggregate nominal value of BGN 200 million at a weighted average yield of 3.35% were offered successfully at the auction held on 13 May 2024 for the new issue.

The total subscribed amount reached BGN 445.3 million, which corresponds to a bid-to-cover ratio of 2.23. The spread reported as against the analogous German Bunds is 93 basis points. The participants were highly interested, with the biggest amount of GS acquired by banks – 48%, followed by insurance companies with 21%, pension funds with 13%, contractual and guarantee funds with 5%, investment intermediaries with 3%, and other investors with 10%.