February 6 (SeeNews) - Romania on Monday sold above target 323.7 million lei ($77 million/72 million euro) of Treasury notes maturing on December 19, 2022, central bank data showed.
The average accepted yield at the auction rose to 3.30% from 3.14% at the previous auction of government securities from the same issue held in January, the data indicated.
Demand for the T-notes, which carry an annual coupon of 3.50%, fell to 678.8 million lei from 933.6 million lei in January.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 45 million lei in a non-competitive tender.
Details of the issue follow:
| Auction date |
February 6 |
January 16 |
| Amount offered (mln lei) |
300.0 |
300.0 |
| Amount sold (mln lei) |
323.7 |
730.4 |
| Total bids placed (mln lei) |
678.8 |
933.6 |
| Bid-to-cover ratio |
2.26 |
3.11 |
| Yield (%) |
3.30 |
3.14 |
Romania's finance ministry plans to sell 3.9 billion lei worth of government securities in February , according to the debt issuance calendar for the month. The ministry also plans to sell an additional 315 million lei of government paper in non-competitive offers.
In January, the ministry sold 3.125 billion lei in domestic debt paper and an additional 315 million lei in non-competitive offers, in line with target. However, at some of the tenders, they sold less than planned as domestic political and social unrest intensify, and the budget draft is still suspended between the government and the parliament.
In 2016, the finance ministry sold roughly 45 billion lei in leu-denominated government securities and 775 million euro in euro-denominated domestic debt and raised 3.25 billion euro on global markets.
(1 euro=4.5095 lei)