03.12.2014

The Ministry of Finance successfully placed a nine-month GS issue with nominal value of EUR 400 million and maturity date 05.09.2015. At the auction held on 03.12.2014 the annual average weighted yield achieved on the approved orders is 0.61% and the spread to the benchmark German Bunds is 0.65%. The GS issued are short-term and no interest coupon is paid thereon. The yield for investors is formed based on the discount of the nominal value when acquired. The average price at which the participants purchased the GS is EUR 99.54 for EUR 100 nominal. The subscription amounted to almost EUR 861.47 million, the bid-to-cover ratio being 2.15.

The distribution of investors at the auction was as follows: banks acquired 64.50%% of the GS, pension funds - 26.67%%, insurance companies - 4.27%, contractual and guarantee funds - 2.60% and other investors - 1.96%.