On May 11, 2011, GEL 20 000 000 2 year Ministry of Finance Treasury Notes were sold at the Auction held at NBG. Seven commercial banks participated in the auction. The total demand amounted to GEL 48 500 000. Minimum yield was 12.000%, maximum yield was 12.300% and the weighted average yield was fixed at 12.213%. The coupon rate was 12.2%. Coupons will be paid semiannually.