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Romania sells 1.16 bln lei (243 mln euro) of 2023 T-notes, yield rises - table

Romania sells 1.16 bln lei (243 mln euro) of 2023 T-notes, yield rises - table Photo:

BUCHAREST (Romania), December 5 (SeeNews) - Romania's finance ministry sold on Thursday 1.16 billion lei ($269 million/243 million euro) of Treasury bonds maturing on September 25 2023, well above target, data from the country's central bank showed.

The average accepted yield rose to 4.07% from 3.92% achieved at the previous auction of government securities of the same issue held in November, the data indicated.

Demand for the T-notes, which carry an annual coupon of 4.40%, fell to 1.754 billion lei from 1.860 billion lei at the previous auction.

The issue will be reopened on Friday when the finance ministry hopes to raise 75 million lei in a non-competitive tender.

Also on Thursday, the finance ministry rejected all bids for 500 million lei of Treasury bonds maturing on June 24, 2020.

Details on the issue follow:

Auction date December 5 November 25
Amount offered (mln lei) 500.0 400.0
Amount sold (mln lei) 1,160.0 1,051.0
Total bids placed (mln lei) 1,754.1 1,860.5
Bid-to-cover ratio 1.5 1.8
Yield (%) 4.07 3.92

Since the beginning of 2019, the finance ministry has sold roughly 47.2 billion lei and 1.2 billion euro worth of domestic government securities.

It also tapped foreign markets for 5 billion euro worth of 2026, 2034 and 2049 Eurobonds.

(1 euro=4.7764 lei)