September 4 (SeeNews) - Romania's finance ministry sold on Monday 522.5 million lei ($114 million/105.6 million euro) worth of Treasury notes maturing on April 29, 2030, above target, central bank data showed.
The average accepted yield was 6.70%, up from 6.64% 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% rose to 706 million lei, from 243 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 |
Sept 4 |
Aug 7 |
| Amount offered (mln lei) |
500.0 |
500.0 |
| Amount sold (mln lei) |
522.5 |
138.0 |
| Total bids placed (mln lei) |
706.0 |
243.0 |
| Bid-to-cover ratio |
1.4 |
1.8 |
| Yield (%) |
6.70 |
6.64 |
Year-to-date, Romania has sold some 74.647 billion lei worth of debt paper.
(1 euro=4.94629 lei)