Bulgaria Plans to Raise 2.25 Bln Euro in Debt Issues in 2014

Bulgaria Plans to Raise 2.25 Bln Euro in Debt Issues in 2014

Bulgaria plans to raise 4.4 billion levs ($3.01 billion/2.25 billion euro) in debt issues in 2014, 3.0 billion of which will be traded on the international markets, the Bulgarian News Agency, BTA.
The country plans to raise 1.5 billion euro in Eurobonds in the first half of the year in two issues of 750 million euro each, Damyan Staykov, director of the Issue Department of the finance ministry, said, as quoted by BTA. Some 900 million levs will be auctioned on the domestic market through the issuance of government bonds, 550 million levs of which will be raised in four issues in February and March.
Bulgaria will use the proceeds from the operations to plug its budget gap and to redeem debt papers that mature in 2015.
Earlier this month the finance ministry said that it plans to issue Treasury bills worth a total 900 million levs in January. It already issued 400 million levs in bonds on January 6 and another 50 million levs on January 13. The next auction for 50 million levs is scheduled for January 20.
 
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