Bulgaria Sells 25.5 Mln Euro in 2.5-yr T-notes

Bulgaria Sells 25.5 Mln Euro in 2.5-yr T-notes

Bulgaria sold 50 million levs ($35.3 million/25.5 million euro) in two-and-a-half-year Treasury notes, at an weighted average yield of 1.07%, the finance ministry said.

Dealers placed bids for 236.55 million levs worth of government debt papers as the bid-to-cover ratio reached 4.73, the ministry said in a press release.

The average price of the approved bids was 100.89 levs per 100 levs of par value, the Bulgarian National Bank, which auctions government securities on behalf of the finance ministry, said in a statement published on its website.

Thirteen primary dealers placed bids in the auction, it added.

The issue bears an annual interest rate of 1.5% and matures on September 26, 2016.

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