11.04.2022

On 11 April 2022, the Ministry of Finance reopened an issue of 3.5-year BGN-denominated Government Securities (GS) maturing on 17.05.2025.

The auction resulted in successful placement of Government Securities with an aggregate nominal value of BGN 500 million, at an annual weighted average yield of 0.88%.

The subscribed amount totalled BGN 752,35 million, which corresponds to a bid-to-cover ratio of 1.50. The recorded spread to the analogous German Bunds is 65 basis points; the spread to the German Bunds at the previous auction for the same issue held in March 2022 was 81 basis points.

Pension funds acquired the biggest amount of GS at the auction – 56.2 %, followed by banks – 33.58 %, guarantee funds – 5.0 %, insurance companies – 1.1 %, investment intermediaries – 0.12 %, and other investors – 4.0%.