Romania sells 161 mln euro of 2028, 2031 T-notes

The finance ministry placed 400 million lei worth of T-notes maturing on April 26, 2028, right on target, the central bank said in a data release.

The average accepted yield came in at 6.32%, compared to 6.24% achieved at the previous auction of Treasury paper of the same issue held last month. Demand for the T-notes which have an annual coupon of 6.3%, plummeted to 520 million lei from 994.8 million lei at the previous auction.

The finance ministry also sold on Thursday 400 million lei worth of T-notes maturing on April 28, 2031, on target.

The average accepted yield rose to 6.69% from 6.58% achieved at the previous auction of T-notes of the same issue held last month. Demand for the Treasury paper that has an annual coupon of 7.35% fell to 419.5 million lei from 719 billion lei at the previous auction.

Both issues will be reopened on Monday when the finance ministry hopes to raise an additional total of 120 million lei through non-competitive tenders.

Details of the issues follow:

Romania has sold approximately 41.169 billion lei worth of government securities year-to-date.

(1 euro=4.9753 lei)