August 28 (SeeNews) - Romania's finance ministry sold on Monday 678 million lei ($148.5 million/137.4 million euro) worth of government bonds maturing on April 28, 2031, above target, central bank data showed.
The average accepted yield was 6.76%, up from 6.42% 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 7.35%, rose to 968.1 million lei, from 799.1 million lei at the previous auction.
The issue will be reopened on Wednesday, 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 |
Aug 28 |
July 26 |
| Amount offered (mln lei) |
500.0 |
500.0 |
| Amount sold (mln lei) |
678.0 |
654.1 |
| Total bids placed (mln lei) |
968.1 |
799.1 |
| Bid-to-cover ratio |
1.4 |
1.2 |
| Yield (%) |
6.76 |
6.42 |
So far this year, Romania has sold some 73.390 billion lei worth of debt paper.
(1 euro=4.93510 lei)