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Romania sells 173.4 mln euro of 2029, 2033 T-notes

Jun 3, 2024, 4:16:25 PMArticle by Alexandru Cristea
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June 3 (SeeNews) - Romania's finance ministry sold on Monday two issues of government securities worth a total of 863 million lei ($187.9 million/173.4 million euro), central bank data showed.

Romania sells 173.4 mln euro of 2029, 2033 T-notes

The finance ministry placed 460.1 million lei worth of T-notes maturing on April 25, 2029, below target, the central bank said in a data release.

The average accepted yield came in at 6.62%, compared to 6.55% 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%, fell to 490.1 million lei from 751 million lei at the previous auction.

The finance ministry also sold on Monday 402.9 million lei worth of T-notes maturing on October 30, 2033, below target.

The average accepted yield rose to 6.82% from 6.7% 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 7.2% plummeted to 457.9 million lei from 1.598 billion lei at the previous auction.

Both issues will be reopened on Wednesday when the finance ministry hopes to raise an additional 150 million lei through non-competitive tenders.

Details of the issues follow:

Maturity April 25, 2029 Oct 30, 2033
Amount offered (mln lei) 500.0 500.0
Amount sold (mln lei) 460.1 402.9
Total bids placed (mln lei) 490.1 457.9
Bid-to-cover ratio 1.07 1.14
Yield (%) 6.62 6.82

Romania has sold approximately 50.396 billion lei worth of government securities year-to-date.

(1 euro=4.9761 lei)

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