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Bulgaria sells EUR 204.5mn of 9-month T-bills

January 28, 2014

Bulgaria sold BGN 400mn ( EUR 204.5mn ) worth of nine-month Treasury bills at an auction held on Monday, January 27 , the central bank said. The average yield settled at 0.58% - just below the 0.60% return the Treasury achieved in the beginning of the month when it placed BGN 400mn worth of six-month T-bills. The Jan 27 auction lured BGN 843.4mn worth of orders, resulting in a coverage ratio of 2.11. With the latest debt issue, the government executed its borrowing plan for the month. It borrowed a total of BGN 900mn, which will be used to pay agricultural producers early subsidies. The funds will later on be reimbursed by the European Commission . The date of the next debt auction is set for February 3 when the government will offer for sale BGN 400mn of three-month Treasury bills.

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Source: IntelliNews - Weekly Reports

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