13.04.2020

On 13 April 2020, the Ministry of Finance reopened the issue of 10.5-year BGN-denominated Government Securities (GS) maturing on 21.12.2029, which was placed on 21.06.2019. The issue is a reference one in respect of the harmonised long-term interest rate to evaluate the nominal convergence level, which the ECB monitors as one of the Maastricht criteria.

The auction resulted in successful placement of Government Securities with an aggregate nominal value of BGN 200 million, at a weighted average yield of 0.55 %.

The subscribed amount totalled BGN 250.7 million, which corresponds to a bid-to-cover ratio of 1.25. The banks acquired the largest quantity of GS at the auction – 81.5 %, followed by insurance companies – 5.5 %, pension funds – 3 %, and other investors – 10 %.