On April 20, the Bulgarian National Bank conducted an auction for government securities from an issue maturing on January 28, 2031, with the Ministry of Finance placing bonds on the market worth 150 million euros.
The securities were offered at a fixed annual interest rate of 2.75%, with coupon payments scheduled every six months and full repayment of the principal planned for maturity in 2031.
Investor demand significantly exceeded the amount offered. According to data from the BNB, total submitted orders reached 224.1 million euros, meaning that demand was almost one and a half times higher than supply, with a coverage ratio of 1.49.
The average accepted price stood at 97.16 euros for every 100 euros of nominal value, reflecting strong market interest despite the conditions of issuance.
As a result of the auction, the Ministry of Finance placed the entire planned volume of 150 million euros successfully on the market.
Eight primary dealers of government securities took part in the procedure, confirming broad institutional participation in the auction process.
Authorities also indicated that further tranches from the same bond issue are expected to be offered in future placements, depending on financing needs and market conditions. (Novinite)