Romania sells 116.5 mln euro of 2034 T-bonds, above target

The average accepted yield rose to 6.53%, from 6.49% achieved at the previous auction of government securities of the same issue held in January. Demand for the T-bonds, which have an annual coupon of 7.1%, fell to 847.6 billion lei from 937.6 million lei at the previous auction.

The issue will be reopened on Wednesday when the finance ministry hopes to raise an additional 60 million lei through a non-competitive tender.

Details follow:

Romania has sold about 17.855 billion lei worth of government securities year-to-date.

(1 euro = 4.9731 lei)