Bulgaria Issues BGN 200 M 10Y-6M Government Bonds at 2.58% Yield

Business » FINANCE | January 26, 2016, Tuesday // 18:27
Bulgaria: Bulgaria Issues BGN 200 M 10Y-6M Government Bonds at 2.58% Yield

Bulgaria’s Finance Ministry has issued BGN 200 M worth of 10-1/2 year government bonds at a weighted average yield of 2.58%, as the issue was oversubscribed.

The spread to the German Bunds in this maturity segment is 210 basis points, the Finance Ministry said in a statement on Tuesday.

Investors subscribed for BGN 225 M worth of government bonds in Monday’s auction.

The issue, which will mature on 27 July 2026, “is a benchmark in 2016 in respect of the harmonised long-term interest rate evaluating the convergence level, which is one of the Maastricht criteria,” the Finance Ministry said.

Convergence criteria, or Maastricht criteria, are criteria, based on economic indicators, that EU member states must fulfil to enter the euro zone.

Banks acquired 82.45% of the government securities in the auction. Pension funds followed with 8.05%, investment intermediaries - 5.50%, and other investors - 4.00%.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Finance » Be a reporter: Write and send your article
Tags: Bulgaria, Finance Ministry, auction, government, bonds, securities, Maastricht criteria

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria