July 16 (SeeNews) - Romania sold on Monday 209.8 million lei ($52 million/45 million euro) worth of Treasury notes maturing on September 24,2031 , below the initial target, central bank data showed.
The average accepted yield fell to 5.32% from 5.38% achieved at the last auction of government securities of the same issue held in June, the data indicated.
Demand for T-notes, which carry an annual coupon of 3.65%, rose to 406.8 million lei on Monday from 258.9 million lei at the auction in June.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 30 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
July 18 |
June 25 |
Amount offered (mln lei) |
400.0 |
500.0 |
Amount sold (mln lei) |
209.8 |
258.9 |
Total bids placed (mln lei) |
406.8 |
258.9 |
Bid-to-cover ratio |
1.9 |
2.9 |
Yield (%) |
5.32 |
5.38 |
Romania's finance ministry plans to auction 3.1 billion lei worth of government securities in July, including 405 million lei in non-competitive offers.
Since the beginning of 2018, the finance ministry has sold roughly 20 billion lei and 252 million euro worth of domestic debt and has raised 2 billion euro on international markets from the sale of 2028 and 2030 Eurobonds, as well as $1.2 billion of 2048 bonds.
(1 euro=4.6550 lei)