Finance Ministry Sells GEL 40 Mln Bonds

On October 20, the Ministry of Finance of Georgia sold 10-year treasury notes worth GEL 40 million (USD 12 million) at the Treasury Securities Auction.

National Bank of Georgia (NBG) stated that four commercial banks participated in the auction, with total demand amounting to GEL 66 050 000 (USD 20 million).

The minimum interest rate stood at 8.750%; the maximum rate at 8.850%, while the weighted average yielded 8.775%.

The coupon rate was 10.250%, with coupons to be paid semiannually, NBG added.

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