Bulgaria successfully placed two bond issues - EUR 2bn 10 years and EUR 1.2bn 20 years. The 10y spread was set at MS+95bps, and the 20y spread was set at MS+145bps. According to the statement, the former achieved a 3.64% yield, while the latter was placed at a 4.36% yield. The order book exceeded EUR 13.8bn thanks to the strong market interest following the official green light for the Eurozone accession and upgraded credit rating from Fitch and S&P. Note that debt issuance allowed for 2025 in the annual budget is set at BGN 18.9m. With EUR 4bn in Bonds placed in April and BGN 2.1bn on the domestic market, the country accumulated a total of BGN 16.2bn in debt financing year to date.