October 5 (SeeNews) - Romania on Thursday rejected all bids in a 400 million lei ($103 million/87 million euro) auction of Treasury notes due on February 25, 2019, central bank data showed.
Bids for a total of 424.5 million lei worth of government paper were placed.
The issue will be reopened on Friday when the finance ministry hopes to raise 60 million lei in a non-competitive tender.
At the previous auction of the same T-note issue held in August, the finance ministry sold the planned amount of 500 million lei ata yield of 1.27%.
Details follow:
Auction date |
October 5 |
August 28 |
Amount offered (mln lei) |
400.0 |
500.0 |
Amount sold (mln lei) |
- |
500.0 |
Total bids placed (mln lei) |
424.5 |
1,240.6 |
Bid-to-cover ratio |
1.06 |
2.48 |
Yield (%) |
- |
1.27 |
Romania's finance ministry plans to auction 2.2 billion lei worth of government securities and to sell an additional 240 million lei in non-competitive offers in October.
In September, the ministry auctioned 3.35 billion lei worth of domestic debt paper and an additional 405 million lei in non-competitive offers, slightly below target.
So far this year, the ministry has sold some 37.5 billion lei and 340 million euro worth of government bills and bonds and has tapped foreign markets for 1.75 billion euro of 2027 and 2035 Eurobonds.
In June, the ministry said it plans to sell 7.5 billion euro worth of Eurobonds on the international markets in the following two years.
This year, it plans to sell about 2.5-3.0 billion euro worth of Eurobonds on the international markets and some 48-50 billion lei worth of leu-denominated domestic debt.
(1 euro=4.5782 lei)