January 5 (SeeNews) - Romania sold on Thursday a planned 500 million lei ($116 million/111 million euro) of Treasury bonds maturing on February 25, 2019, central bank data showed.
The average accepted yield in the auction rose to 1.38% from 1.36% 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 1.35%, rose to 661.8 million lei from 542.1 million lei in November.
The issue will be reopened on Friday when the finance ministry hopes to raise 75 million lei in a non-competitive tender.
Details about the issue follow:
Auction date |
January 5 |
November 14 |
Amount offered (mln lei) |
500.0 |
400.0 |
Amount sold (mln lei) |
500.0 |
160.0 |
Total bids placed (mln lei) |
661.8 |
542.1 |
Bid-to-cover ratio |
1.32 |
1.35 |
Yield (%) |
1.38 |
1.36 |
Romania's finance ministry plans to sell 3.1 billion lei worth of government securities in January, 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 December, the ministry has sold 1.58 billion lei in domestic debt paper and an additional 270 million lei in non-competitive offers, below its initial target of 3.6 billion lei.
In 2016, the finance ministry has sold roughly 45 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.
(1 euro= 4.5110 lei)