Yields on Bulgaria's 10-1/2-year T-bonds Fall to 4.95%

Yields on Bulgaria's 10-1/2-year T-bonds Fall to 4.95%

Bulgaria's ten-and-a-half-year Treasury bonds produced an average weighted annual yield of 4.95% in Monday's auction, down from 5.35% achieved in the previous auction in January, the country's finance ministry said on Tuesday.

This is the lowest yield achieved on bonds with this maturity since March 2008, the ministry said in a statement.

Dealers placed bids for 159.6 million levs ($107.1 million/81.6 million euro) worth of government debt paper against an offer of 55 million levs.

The issue, which carries an annual coupon of 5.0% and will mature on July 11, 2022, produced a maximum annual yield of 4.97% and a minimum yield of 4.89%, the central bank, which auctions government securities on behalf of the finance ministry, said in a statement published on its website on Monday.

The average weighted price of the approved bids was 100.90 levs per 100.0 levs of par value.

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