December 8 (SeeNews) - Romania on Thursday sold 478 million lei ($102 million/97 million euro) worth of Treasury bonds maturing on October 11 2034, above the planned amount, central bank data showed.
The average accepted yield was 7.78%, compared to 8.29% achieved at the previous auction of government securities of the same issue held in November, the data indicated.
Demand for the T-notes, which carry an annual coupon of 4.75%, fell to to 721.1 million lei from 1.397 billion lei at the previous auction.
The issue will be reopened on Friday, when the finance ministry hopes to raise 60 million lei in a non-competitive tender.
Also on Thursday, the finance ministry sold 301.3 million lei of a new Treasury bills issue maturing on November 29 2023.
Details on the issue follow:
Auction date |
December 8 |
November 17 |
Amount offered (mln euro) |
400.0 |
400.0 |
Amount sold (mln euro) |
478.0 |
967.5 |
Total bids placed (mln euro) |
721.1 |
1,397.0 |
Bid-to-cover ratio |
1.51 |
1.44 |
Yield (%) |
7.78 |
8.29 |
Romania's finance ministry intends to sell 5 billion lei worth of government securities in December, including 630 million lei in non-competitive offers.
So far this year, Romania has sold just roughly 58.8 billion lei and 1 billion euro ($1.05 billion) worth of bonds and bills. It has also has tapped foreign markets for 2.5 billion euro worth of 2028 and 2034 Eurobonds, as well as $3.85 billion worth of dollar bonds.
(1 euro=4.9192 lei)