Finance Ministry Sells GEL 80 Mln Benchmark Bonds

On September 22, the Ministry of Finance of Georgia sold 5-year benchmark bonds worth GEL 80 million (USD 25 million), according to the National Bank of Georgia.

NBG stated that 5 commercial banks participated in the auction, with total demand amounting to GEL 151.5 million (USD 47 million).

The minimum interest rate stood at 8.280%; the maximum rate at 8.450%, while the weighted average yielded 8.300%.

The coupon rate was 9.125%, with coupons to be paid semiannually, NBG added.

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