Finance Ministry Sells GEL 120 Mln Benchmark Bonds

The Ministry of Finance of Georgia sold benchmark bonds worth GEL 120 million (USD 38.7 million) on June 2 at the Treasury Bill Auction, according to the National Bank of Georgia.

The Central Bank said benchmark bonds with nominal value of GEL 70 million (USD 22.5 million) were sold with a maturity of 2 years. Six commercial banks took part in the auction. The total demand equaled GEL 148,650,000 (USD 48 million). Minimum interest rate stood at 8.5 %, maximum – at 8.7 %, while the weighted average interest rate amounted 8.65 %.

Bonds worth GEL 50 million (USD 16 million) were sold with a maturity of 182 days. Seven banks bidded at the auction. The overall demand reached GEL 111,500,000 (USD 40 million). Minimum yield was at 8.5 %, maximum yield was at 8.74 %, and the weighted average yield was in the region of 8.66 %.

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