site.btaBulgaria to Auction EUR 100 Mln in Five-Year Government Securities

Bulgaria will auction five-year government securities worth EUR 100 million on July 27, the Bulgarian National Bank (BNB) said on Friday. The Ministry of Finance will offer them on the domestic market.

The auction will be the tenth domestic debt sale since the start of 2026, Ministry of Finance data show. The securities are from issue BG 20 301 26 119, reopened at three auctions this year.

If the placement succeeds, new debt raised on the domestic market in 2026 will reach EUR 1.51 billion, while total new borrowing this year will rise to EUR 4.01 billion. On July 7, 2026, Bulgaria successfully placed EUR 2.5 billion in bonds in three tranches on international capital markets.

Under the draft 2026 State Budget Act, the ceiling for new government debt in 2026 is EUR 10.1 billion, including a loan of up to EUR 3.261 billion under the European Union’s Security Action for Europe (SAFE) instrument to strengthen the defence industry. Government debt is projected to reach EUR 37.7 billion, or 30.1% of GDP, by year-end.

The five-year issue was launched in January and matures on January 28, 2031. It carries an annual coupon of 2.75%. The first two auctions placed EUR 150 million each at average yields of 2.94% in January and 3.03% in March. A further EUR 150 million was sold in April at an average yield of 3.33%, bringing the issue’s outstanding nominal value to EUR 450 million.

The July 7 international placement comprised three tranches maturing in 2032, 2038 and 2045. Further international borrowing may follow by year-end to finance payments under the National Recovery and Resilience Plan and cover the budget deficit. In 2025, Bulgaria raised about EUR 8.9 billion in new debt, including EUR 1.7 billion on the domestic market and EUR 7.2 billion internationally.