Romania's finance ministry sold 586 million lei ($126.4 million/119.1 million euro) worth of government bonds maturing on September 29, 2032, above target volume, central bank data showed on Thursday.
The average accepted yield was 7.51%, compared to 7.74% achieved at the previous auction of government securities of the same issue held in February.
Demand for the bonds, which carry an annual coupon of 8.25%, rose to 1.605 billion lei in Thursday's auction from 1.434 billion lei at the previous auction.
The issue will be reopened on Monday, when the finance ministry hopes to raise 60 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
March 16 |
February 23 |
Amount offered (mln lei) |
400.0 |
500.0 |
Amount sold (mln lei) |
586.0 |
933.8 |
Total bids placed (mln lei) |
1,605.1 |
1,433.5 |
Bid-to-cover ratio |
2.74 |
1.54 |
Yield (%) |
7.51 |
7.74 |
So far this year, Romania has sold some 33.101 billion lei worth of debt paper.
(1 euro=4.919 lei)