Bulgaria Sells 34.5 Mln Euro in 5-yr T-notes

Bulgaria Sells 34.5 Mln Euro in 5-yr T-notes

Bulgaria's finance ministry sold 34.51 million euro ($46.2 million) worth of five-year Treasury notes at an average weighted annual yield of 3.5%.

The ministry decided to reopen the issue for a second time in one month in response to high interest in the auction held on February 13, when it sold 35 million euro worth of government securities at an average annual yield of 3.47%.

Dealers placed bids for 78.46 million euro worth of government securities against an offer of 50 million euro in the auction, the Bulgarian central bank which auctions government securities on behalf of the finance ministry, said in a statement on its website on Tuesday.

The average weighted price of the approved bids was 102.02 per 100.0 levs of par value. The maximum annual yield was 3.54% and the minimum yield of 3.42%.

The issue, which matures on March 30, 2016, was launched in late March 2011.

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