June 3 (SeeNews) - Romania sold on Monday 1.31 billion lei ($308 million/276 million euro) worth of a new issue Treasury notes maturing on February 12, 2029, above initial target, central bank data showed.
The average accepted yield fell to 4.76% from 4.96% achieved at the previous auction of government securities of the same issue held in May, the data indicated.
Demand for the T-notes, which carry an annual coupon of 5%, rose to 1.31 billion lei from 1.22 billion lei at the May auction.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 75 million lei in a non-competitive tender.
Also on Monday, the finance ministry rejected all bids for 400 million lei of a new issue of Treasury bills maturing on December 4, 2019.
Details on the issue follow:
Auction date |
June 3 |
May 9 |
Amount offered (mln lei) |
500.0 |
500.0 |
Amount sold (mln lei) |
1.316,9 |
535.0 |
Total bids placed (mln lei) |
2.113,2 |
1,221 |
Bid-to-cover ratio |
1.6 |
2.3 |
Yield (%) |
4.76 |
4.96 |
The finance ministry plans to auction 4.4 billion lei worth of government securities in June, including 500 million lei in non-competitive offers.
Since the beginning of 2019, the finance ministry has sold roughly 18.9 billion lei and 507 million euro ($568 million) worth of domestic government securities. It also tapped foreign markets for 3 billion euro worth of 2026, 2034 and 2049 Eurobonds.
(1 euro=4.7450 lei)