On March 11, Bulgaria raised BGN 50mn (EUR 25.6mn) in an auction for 10.5-year Treasury bonds with an annual coupon rate of 4%.
As expected, the yield rose to an average of 3.63%. This puts an end to the downward trend that persisted during the whole 2012.
Less optimistic economic prospects and mass protests in the country that led to resignation of the government on Feb 20 have clearly resulted in rising perceived risk. Early indications for a possible shift to a more expansionary fiscal policy and public debt increase have also contributed to investors' rising fears about government's finances.
We anticipate that bond yields will be heading higher at least till the early parliamentary election in May due to uncertainties about the political situation in the country at present.
Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more
A prosecutor from Bulgaria’s specialised anti-corruption unit has pressed extortion charges against deputy parliament speaker Veselin Mareshki, a ... more