Bulgaria placed EUR 210m of 10-year government securities maturing on 11 February 2036 with a 3.50% semi-annual coupon. The total bids amounted to EUR 275.5m, which corresponds to a bid-to-cover ratio of 1.31x. The issue was placed at a weighted average yield of 4.34% (+134 bps spread to German Bunds). Recall that the last auction for the same issue, held on 6 April, resulted in a weighted average yield of 4.18%.