March 9 (SeeNews) - Romania on Thursday rejected all bids in a 600 million lei ($139 million/ 132 million euro) auction of Treasury bonds due on February 26, 2020, central bank data showed.
Bids were placed for a total of 532.1 million lei worth of government paper.
The issue will be reopened on Friday when the finance ministry hopes to raise 90 million lei in a non-competitive tender.
At the previous auction of the same T-bonds issue held at the beginning of February, the finance ministry sold a planned 600 million lei.
Details about the issue follow:
Auction date |
March 9 |
February 9 |
Amount offered (mln lei) |
600.0 |
600.0 |
Amount sold (mln lei) |
0 |
600.0 |
Total bids placed (mln lei) |
532.1 |
1,577.8 |
Bid-to-cover ratio |
0.89 |
2.62 |
Yield (%) |
- |
2.20 |
Romania's finance ministry plans to auction 3.7 billion lei worth of in government securities in March, according to the debt issuance calendar for the month. The ministry also plans to sell an additional 375 million lei of government paper in non-competitive offers.
In February, the finance ministry sold 3.32 billion lei in domestic debt paper and an additional 315 million lei in non-competitive offers, below its initial target of 3.9 billion lei.
So far this year, the finance ministry has sold some 7.5 billion lei worth of leu bills and bonds.
At the beginning of March, the ministry said it plans to sell about 2.5-3.0 billion euro ($2.6-3.1 billion) worth of eurobonds on the international markets and some 48-50 billion lei worth of leu-denominated domestic debt this year.
(1 euro=4.5456 lei)
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