September 7 (SeeNews) - Romania's finance ministry sold on Thursday 550.5 million lei ($118.8 million/110.9 million euro) worth of Treasury notes maturing on October 28, 2026, above target, central bank data showed.
The average accepted yield was 6.44%, down from 6.58% 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 7.2% rose to 750.5 million lei at Thursday's auction, from 640.7 million lei at the previous auction.
The issue will be reopened on Monday, when the finance ministry hopes to raise an additional 75 million lei in a non-competitive tender.
Details on Thursday's issue follow:
| Auction date |
Sept 7 |
Aug 14 |
| Amount offered (mln lei) |
500.0 |
500.0 |
| Amount sold (mln lei) |
550.5 |
525.7 |
| Total bids placed (mln lei) |
750.5 |
640.7 |
| Bid-to-cover ratio |
1.4 |
1.2 |
| Yield (%) |
6.44 |
6.58 |
Year-to-date, Romania has sold 75.272 billion lei worth of debt paper.
(1 euro=4.96042 lei)