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Bulgarian government securities purchased at negative interest rates

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Bulgaria's Ministry of Finance has announced that on Monday it sold the new issue of government securities with a 5-year maturity amidst huge investors' interest. At the auction, a loan of EUR 102 million was issued, and buyers' requests were 2.5 times higher than the bid. The biggest news, according to experts, is the fact that the buyers have acquired the securities with a negative return on them of minus 0.11%, which is the trend also with German federal bonds. The issue was mainly acquired by banks, which bought 64% of the securities, insurance companies bought 26.5% and pension funds - 9.5%.


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