January 13 (SeeNews) - Romania sold on Monday 1.192 billion lei ($277 million/250 million euro) worth of Treasury bonds maturing on June 17 2024, above initial target, central bank data showed.
The average accepted yield fell to 3.89% from 4.10% achieved at the previous auction of government securities of the same issue held in December, the data indicated.
Demand for the T-notes, which carry an annual coupon of 4.50%, fell to 2.03 billion lei from 3.6 billion lei at the December auction.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 120 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
January 13 |
December 19 |
Amount offered (mln lei) |
800.0 |
800.0 |
Amount sold (mln lei) |
1,192.0 |
1,000.0 |
Total bids placed (mln lei) |
2,037.2 |
3,602.8 |
Bid-to-cover ratio |
1.7 |
3.6 |
Yield (%) |
3.89 |
4.10 |
So far this year, Romania has sold almost 3 billion lei of debt.
(1 euro=4.7791 lei)