On February 9, 2011, GEL 15 000 000 2 year Ministry of Finance Treasury Notes were sold at the Auction held at NBG. Nine commercial banks participated in the auction. The total demand amounted to GEL 50 700 000. Minimum yield was 12.750%, maximum yield was 12.950% and the weighted average yield was fixed at 12.850%. The coupon rate was 12.8%. Coupons will be paid semiannually.