Finance Ministry Sells GEL 90 Mln Bonds

The Ministry of Finance of Georgia sold GEL 90 million (USD 28 million) worth of bonds on the Treasury Securities auctions held on October 6.

According to the statement, Finance Ministry auctioned Benchmark Bonds with a nominal value of  GEL 70 million (USD 21 million) and maturity of 2 years. Three commercial banks participated in the auction and the total demand equaled to GEL 113,820,000 (USD 35 million).

On the auction, the minimum interest rate stood at 8.000%, the maximum rate at 8.300%, while the weighted average rate yielded 8.168%.

The Ministry also auctioned Treasury Bills with a nominal value of GEL 20 million (USD 6 million) and maturity of 6 months. Five commercial banks partook in the auction and the total demand equaled to GEL 50,415,000 (USD 16 million).

On the auction, the minimum interest rate stood at 8.000%, the maximum rate at 8.120%, while the weighted average rate came in at 8.059%.

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