Yield on Bulgaria's 10-yr T-notes Falls to 3.48%
The average weighted annual yield on Bulgaria's ten-year Treasury notes fell to a seven-year low of 3.48%, the finance ministry said on Tuesday.
At the previous ten-year T-notes action, on February 20, the yield was 3.71%.
The finance ministry sold 50 million levs ($33.6 million/25.6 million euro) worth of ten-year T-notes on Monday, as 68% of them were purchased by Bulgarian banks, the ministry said in a statement.
Dealers placed bids for 98.75 million levs worth of debt paper, the Bulgarian central bank, which auctions government securities on behalf of the finance ministry, said in a statement on its website on Monday.
The average weighted price of the approved bids was 103.54 levs per 100.0 levs of par value. The maximum annual yield was 3.53% and the minimum - 3.36%.
The T-notes were issued in 2007 and will mature on January 10, 2017. This was their second reopening so far this year.