May 19 (SeeNews) - Romania's finance ministry sold 790.4 million lei ($171.9 million/158.9 million euro) worth of Treasury bonds maturing on September 29, 2032, above its 700 million lei target, central bank data showed on Thursday.
The average accepted yield was 7.11%, compared to 7.32% achieved at the previous auction of government securities of the same issue held in April.
Demand for the bonds, which carry an annual coupon of 8.25%, rose to 1.238 billion lei in Thursday's auction from 1.039 billion lei at the previous auction.
The issue will be reopened on Monday, when the finance ministry hopes to raise an additional 105 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
May 18 |
April 27 |
Amount offered (mln lei) |
700.0 |
700.0 |
Amount sold (mln lei) |
790.4 |
854.0 |
Total bids placed (mln lei) |
1,238.4 |
1,039.2 |
Bid-to-cover ratio |
1.57 |
1.22 |
Yield (%) |
7.11 |
7.32 |
So far this year, Romania has sold some 47.137 billion lei worth of debt paper.
(1 euro=4.9731 lei)