On December 7, 2011, GEL 8 000 000  2-year Ministry of Finance Treasury Notes were sold at the Auction held at NBG. Five commercial banks participated in the auction. The total demand amounted to GEL 18 000 000. Minimum yield was 8.950%, maximum yield was 9.240% and the weighted average yield was fixed at 9.144%. The coupon rate was 9.1%. Coupons will be paid semiannually.