Bulgaria placed EUR 150m of 5-year government securities maturing on January 28, 2031 with a 2.75% annual coupon. The total bids amounted to EUR 173.4m, which corresponds to a bid-to-cover ratio of 1.16x. The issue was placed at a weighted average yield of 4.02%. Recall that the Ministry of Finance already held three auctions of this issue for EUR 550m total with a weighted average yield ranging from 2.94% to 3.43%.