Bulgaria sold BGN 400mn ( EUR 204.5mn ) worth of six-month Treasury bills at an auction held on Monday, January 6 , the central bank said. The average yield fell to 0.60% from 1% at the previous such auction held in February 2013 . Demand on Jan 6 was for BGN 840.4mn, resulting in a coverage ratio of 2.03. In comparison, the coverage ratio was 1.45 in the similar auction from last February when the government sold BGN 800mn worth of six-month T-bills. The government has three more debt issues planned for January 2014 . The remaining debt paper to be put up for sale this month is in the size of BGN 500mn. There will be another BGN 400mn issue planned for the last week of the month and two smaller ones of BGN 50mn each before that. The borrowed funds will be used to pay agricultural producers early subsidies.
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