On September 29, the finance ministry sold 2.25 billion euros in eurobonds on international markets, the ministry said. It's Bulgaria's second trip to foreign markets this year, after it raised 2.5 billion euros in July.

The ministry didn't issue new bonds but topped up three existing ones. It added 1 billion euros to bonds due in 2031, 750 million euros to bonds due in September 2034, and 500 million euros to bonds due in 2044. The borrowing falls under Bulgaria's medium-term global note program for debt issued on international capital markets.

Investors placed orders for more than 5.5 billion euros, including 265 million euros from the joint lead managers. Global markets remain shaky, but demand was strong enough to let Bulgaria cut the spread from what it first offered. The spread fell by 20 basis points on the 2031 and September 2034 bonds, and by 15 basis points on the 2044 bonds, the ministry said.

The final spread over the mid-swap rate came to 60 basis points for the 2031 bonds, 95 for the September 2034 bonds, and 160 for the 2044 bonds. That puts the yields at 4.235%, 4.608% and 5.325% respectively.

New debt taken on since the start of 2026 now totals 6.5 billion euros, with 4.75 billion euros raised abroad and 1.755 billion euros at home, according to BTA. Bulgaria's 2026 state budget law allows for up to 10.1 billion euros in new debt, a ceiling that also covers a loan of up to 3.261 billion euros under the EU's SAFE fund for building up defense industry. The ministry says the new borrowing stays within that limit.

By the end of the year, Bulgaria's public debt is expected to reach 37.7 billion euros, or 30.1% of gross domestic product.