August 31 (SeeNews) - Romania's finance ministry sold on Thursday 584.7 million lei ($128.4 million/118.3 million euro) worth of government bonds maturing on May 31, 2027, above target, central bank data showed.
The average accepted yield was 6.44%, down from 6.68% achieved at the previous auction of government securities of the same issue held last month.
Demand for the Treasury bonds, which carry an annual coupon of 7.20%, rose to 754.7 million lei, from 460 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 |
August 31 |
July 5 |
| Amount offered (mln lei) |
500.0 |
500.0 |
| Amount sold (mln lei) |
584.7 |
380.0 |
| Total bids placed (mln lei) |
754.7 |
460.0 |
| Bid-to-cover ratio |
1.3 |
1.2 |
| Yield (%) |
6.44 |
6.68 |
So far this year, Romania has sold some 74,050 billion lei worth of debt paper.
(1 euro=4.93510 lei)