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Commenting article: Bulgaria Pays Off EUR 880 M Debt after Bond Success

Bulgaria has paid EUR 880 M on bonds due on January 15 after successfully floating EUR 950 M worth of five-year bonds at a yield of only 4.25% at the beginning of July, the finance ministry announced.

After the payment, Bulgaria's government debt has been reduced by around EUR 815.5 M from almost EUR 6 966 B to EUR 6 147 B, Deputy Finance Minister Kalina Karaivanova said on January 10.

Bulgaria tapped international markets in July to raise funds to repay the first tranche of about EUR 835 M (USD 1.07 B) in 11-year eurobonds maturing on January 15, 2013.

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#1
Ivanko - 10 Jan 2013 // 23:51:34

For a moment I was thinking "poor Bulgaria"


debt has been reduced by around EUR 815.5 M from almost EUR 6 966 B to EUR 6 147 B

And then I said, this cannot be true!
Indeed, a debt of 6147 B cannot be true.
6,147 B on the other hand ...