September 11 (SeeNews) - Romania's finance ministry sold on Monday 500 million lei ($108.1 million/100.7 million euro) worth of Treasury notes maturing on September 29, 2032, on target, central bank data showed.
The average accepted yield came in at 6.80%, down from 6.87% achieved at the previous auction of government securities of the same issue held last month.
Demand for the government securities which carry an annual coupon of 8.25% fell to 564.5 million lei at Monday's auction, from 966 million lei at the previous auction.
The issue will be reopened on Wednesday, when the finance ministry hopes to raise an additional 75 million lei in a non-competitive tender.
Details on Monday's issue follow:
| Auction date |
September 11 |
August 28 |
| Amount offered (mln lei) |
500.0 |
500.0 |
| Amount sold (mln lei) |
500.0 |
656.0 |
| Total bids placed (mln lei) |
564.5 |
966.0 |
| Bid-to-cover ratio |
1.1 |
1.5 |
| Yield (%) |
6.80 |
6.87 |
So far this year, Romania has sold 75.847 billion lei worth of debt paper.
(1 euro=4.96277 lei)