Bulgaria placed BGN 200m of 6-year government securities maturing on 15 May 2030 with 3.25% semi-annual coupon. As a result, the volume of the issue, which was put into circulation on May 13, increased to BGN 400m. The total bids amounted to BGN 265.2m which corresponds to a bid-to-cover ratio of 1.33. The reopening issue was placed at a weighted average yield of 3.54% (+100 bps spread to German Bunds), compared to 3.35% at the original auction. 70% of the issue was acquired by commercial banks, 17% by insurance companies, and 10% by pension funds. Recall that the previous auction for government securities of a similar duration was held in October 2022, when the Ministry of Finance approved bids for BGN 180.6m at a weighted average yield of 5.65% (+370 bps spread to the German Bunds) and the bid-to-cover ratio was 1.04.