February 10 (SeeNews) - Romania sold on Monday 1.26 billion lei ($290 million/265 million euro) worth of Treasury bonds maturing on June 17 2024, above initial target, central bank data showed.
The average accepted yield fell to 3.68% from 3.89% achieved at the previous auction of government securities of the same issue held in January, the data indicated.
Demand for the T-notes, which carry an annual coupon of 4.50%, rose to 3.05 billion lei from 2.03 billion lei at the previous auction.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 105 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
February 10 |
January 13 |
Amount offered (mln lei) |
700.0 |
800.0 |
Amount sold (mln lei) |
1,260.1 |
1,192.0 |
Total bids placed (mln lei) |
3,050.1 |
2,037.2 |
Bid-to-cover ratio |
2.4 |
1.7 |
Yield (%) |
3.68 |
3.89 |
The finance ministry intends to sell 5 billion lei worth of government securities in February, including 615 million lei in non-competitive offers.
So far this year, Romania has sold almost 9.5 billion lei of debt and tapped foreign markets for 3 billion euro ($3.3 billion) worth of 2032 and 2050 Eurobonds.
(1 euro=4.7668 lei)