February 15 (SeeNews) - Romania on Thursday rejected all bids in a 400 million lei ($106 million/86 million euro) auction of Treasury notes due on June 28, 2023, central bank data showed.
Demand in the auction amounted to 277.4 million lei.
The issue will be reopened on Friday when the finance ministry hopes to raise 60 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
Feb 15 |
Jan 18 |
Amount offered (mln lei) |
400.0 |
500.0 |
Amount sold (mln lei) |
0 |
500.0 |
Total bids placed (mln lei) |
277.4 |
534.0 |
Bid-to-cover ratio |
0.69 |
1.07 |
Yield (%) |
- |
4.00 |
Romania's finance ministry plans to auction 3.1 billion lei worth of government securities and to sell an additional 390 million lei in non-competitive offers in February.
In January, it planned to raise 4.94 billion lei from the sale of government securities but only raised 3.4 billion lei.
So far this year, the finance ministry has sold roughly 5.1 billion lei worth of domestic debt and has tapped 2 billion euro from foreign markets in 2028 and 2030 Eurobonds.
(1 euro=4.6598 lei)