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The state refuses to sell undervalued bonds worth 100 million euros

published on 4/28/20 4:06 PM

Photo: BGNES

Bulgaria's Finance Ministry has not accepted the auction of five-year bonds held by the Bulgarian National Bank (BNB). At the sale of debt securities on January 15, 2020 a price of 99.66 euros for a face value of 100 euros was achieved, which is an annual yield of 0.56%.

The auction involved 9 dealers with orders with a total par value of EUR 134 623 300. No non-competing orders have been submitted. The achieved coverage ratio is 1.32.

The Finance Ministry considers investors' proposals unprofitable and all orders have been rejected, the BNB reported. It was decided to offer additional quantities of the issue at an auction principle.

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Radio Bulgaria News auction bonds Bulgarian National Bank

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