On April 27, 2011, GEL 5 000 000 5 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 14 250 000. Minimum yield was 14.900%, maximum yield was 15.500% and the weighted average yield was fixed at 15.295%. The coupon rate was 15.2%. Coupons will be paid semiannually.