Yield on Bulgaria's 2-yr T-notes Falls to Historical Record Low of 2.11%
The average weighted annual yield on Bulgaria's two-year Treasury notes fell to 2.11%, a historical low on Bulgarian interest-bearing government bonds, the finance ministry said.
At the previous two-year T-note action held in February the yield was 2.36%.
The finance ministry sold 35 million levs ($23.8 million/17.9 million euro) worth of two-year T-notes, as 70% of them were purchased by local banks, the ministry said in a statement on Tuesday.
Dealers placed bids for 92.6 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.
The average weighted price of the approved bids was 100.27 levs per 100.0 levs of par value. The maximum annual yield was 2.14% and the minimum was 2.01%.
The T-notes mature on February 8, 2014. This was its second reopening so far this year.