December 5 (SeeNews) - Romania sold on Monday a planned 300 million lei ($71 million/67 million euro) of Treasury bonds maturing on December 19, 2022, central bank data showed.
The average accepted yield in the auction rose to 3.15% from 2.76% at the previous auction of bonds of the same maturity held in November, the data indicated.
Demand for the government bonds, which carry an annual coupon of 3.50%, rose to 535 million lei from 442 million lei last month.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 45 million lei in a non-competitive tender.
Details about the issue follow:
Auction date |
December 5 |
November 3 |
Amount offered (mln lei) |
300.0 |
400.0 |
Amount sold (mln lei) |
300.0 |
400.0 |
Total bids placed (mln lei) |
535.0 |
442.0 |
Bid-to-cover ratio |
1.78 |
1.10 |
Yield (%) |
3.15 |
2.76 |
Romania's finance ministry plans to sell 3.6 billion lei worth of government securities in December, according to the debt issuance calendar for the month. The ministry also plans to sell an additional 270 million lei of government paper in non-competitive offers.
In November, the ministry has sold 1.825 billion lei in domestic debt paper and an additional 330 million lei in non-competitive offers, below its initial target of 3 billion lei.
Year to date, the finance ministry has sold roughly 43.7 billion lei in local currency-denominated securities and 775 million euro in euro-denominated domestic debt and raised 3.25 billion euro on global markets.
Romania's debt issuance plan for 2016 envisages domestic debt sales of some 48-50 billion lei, including 14-15 billion lei in T-bills and 34-35 billion lei in T-bonds.
The finance ministry also raised the ceiling of its medium-term notes programme, launched in 2011, to 20 billion euro from 18 billion euro. Thus, Romania is to issue some 6.2 billion euro in Eurobonds in 2016 and 2017.
(1 euro= 4.5027 lei)