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Bulgaria collects 162 million leva in Treasury bond sale

Tue, Nov 09 2010 10:03 CET

byDnevnik.bg

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Bulgaria collects 162 million leva in Treasury bond sale

Photo: Julia Lazarova

Bulgaria's Government raised 162 million leva through a Treasury Bond issue held on November 8 2010, the Finance Ministry said.

The 10.5 year debt had an original size of 25 million leva, but the issue was 6.5 times oversubscribed due to high demand.

The transaction produced an average yield of 5.81 per cent, which made the ministry increase the size.

The November 8 issue is considered particularly important as it would provide the basis for determining the long-term interest rate, which is also one of the criteria for Bulgaria's euro zone entry.

The bonds were chiefly taken up by pension funds, insurance companies and mutual funds.



source: Dnevnik.bg

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