26.05.2014

The Ministry of Finance reopened the 7 year issue of Government Securities (GS) with nominal value EUR 25 million and maturity 12 February 2021. At the auction held today the annual average weighted yield achieved is 2.26%. For comparison, the yield achieved at the first auction held on 12 February 2014 was 2.92% and at the first reopening on 28 April 2014 - 2.52%. The participants showed strong interest and the total amount subscribed reached EUR 77.175 million, the coverage coefficient being 3.09.

The biggest amount of GS acquired pension funds - 45.96%, followed by banks - 31.20%, insurance companies - 14.13% and guarantee funds and investment intermediaries - 8.71%.

The spread to the benchmark German Bunds in this segment is 151 b.p. The yield achieved is below that on bonds of a number of EU Member States and countries from the region: Italy (2.45%), Spain (2.59%), Romania (2.81%), Slovenia (3.03%) and Croatia (4.28%).