August 31 (SeeNews) - Romania's finance ministry said on Wednesday it plans to auction 4.3 billion lei ($1.07 billion/965 million euro) in government securities in September, as well as to sell an additional 420 million lei in non-competitive offers.
The finance ministry plans to hold one tender for 1 bllion lei in one-year T-bills, 500 million lei in six-month notes and six auctions for T-bonds worth a combined 2.8 billion lei, with outstanding maturities ranging between 2.6 and 10.9 years.
In August, the ministry sold 4.42 billion lei in government debt and an additional 360 million lei in non-competitive offers, over initial target.
"Given the favourable context - liquidity excess in the banking system, low levels of yields on the external markets, the debt auction calendar for September appears achievable," Raiffeisen Bank commented on Wednesday in a daily market report.
So far this year, the finance ministry has sold roughly 33.3 billion lei in local currency securities and 775 million euro in euro-denominated domestic debt and tapped 2.25 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 program 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=4.4535 lei)