Bulgaria reduced its national debt to 24%
The transaction included a tranche of 7-year bonds worth 1.144 billion euros at an interest coupon of 1.875% and a tranche of 12-year bonds worth EUR 850 million at a 3% interest coupon.
By making the payment, Bulgaria's sovereign debt was reduced by EUR 950 million, from 12,884 to 11,934 billion euros.
This represents a decrease in the ratio of debt to gross domestic product by almost two percentage points, respectively, from 25.9% to 24%.
Thus, the state budget will save debt servicing costs amounting to EUR 40.375 million per year, the Ministry of Finance said. ■