January 17 (SeeNews) - Romania on Tuesday rejected all bids on a 500 million lei ($122 million/107 million euro) treasure bills issue with January 20, 2020, central bank data showed.
The average accepted yield was 5.11%, while demand totaled 209.1 million lei, the data indicated.
The issue will be reopened on Friday when the finance ministry hopes to raise 60 million lei in a non-competitive tender.
Also on Monday, the finance ministry sold 389.4 million lei worth of Treasury notes maturing on February 12, 2029, slightly below initial target.
Details on the issue follow:
Auction date |
January 17 |
Amount offered (mln lei) |
500.0 |
Amount sold (mln lei) |
0 |
Total bids placed (mln lei) |
209.1 |
Bid-to-cover ratio |
0.42 |
Yield (%) |
5.11 |
Romania's finance ministry plans to auction 3.26 billion lei ($794 million/696 million euro) worth of government securities in January, including 360 million lei in non-competitive offers.
In 2018, the finance ministry has sold roughly 43 billion lei of government securities and has raised 3.75 billion euro on international markets from the sale of 2028 and 2030 Eurobonds, as well as $1.2 billion of 2048 dollar bonds.
Since the beginning of 2019, the finance ministry has sold roughly 1.4 billion lei and 83.5 million euro.
(1 euro=4.6890 lei)