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Bulgaria has Borrowed another Half a Billion BGN in Debt

Bulgaria took on another half a billion levs in debt just a week after taking on 500m levs (BGN).

On March 21, the Ministry of Finance reopened an issue of 7.5-year government securities (GS), denominated in BGN, maturing on May 24, 2029, according to its press center.

Government securities for a total nominal value of BGN 500 million at a weighted average annual yield of 1.33% were successfully placed at the auction.

The total amount of submitted orders reached BGN 599.1 million, which corresponds to a coverage ratio of 1.20.

The reported spread over similar German federal bonds amounts to 114 basis points.

The largest amount of government securities at the auction was acquired by banks – 84.1%, followed by insurance companies – 8.4%, pension funds by 3.8%, guarantee funds – 1.4%, investment intermediaries 0.3% and others investors – 2.0%.

/OFFNews

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