Romania sold on Thursday 1.161 billion lei ($257.9 million/235.4 million euro) worth of two Treasury bond issues maturing in 2038 and 2030, respectively, central bank data showed.
The finance ministry sold 422.6 million lei worth of T-bonds maturing on February 24, 2038 at Thursday's auction, below its 500 million lei offer, the central bank said in a data release.
The average accepted yield was 7.77%, compared to 7.99% achieved at the previous auction of government securities of the same issue held in March. Demand for the T-bonds, which carry an annual coupon of 7.9%, jumped to 817.1 million lei from 398.5 billion lei at the previous auction.
The finance ministry also sold 738 million lei worth of government bonds maturing on April 29, 2030, above the 600 million lei target.
The average accepted yield inched down to 7.27% from 7.32% achieved at the previous auction of government bonds of the same issue held in March. Demand for the T-bonds carrying an annual coupon of 8% fell to 968.5 million lei from 1.706 billion lei at the previous auction.
Both issues will be reopened on Monday, when the finance ministry hopes to raise an additional 75 million lei and 90 million lei, respectively, through a non-competitive tender.
Details follow:
Maturity |
Feb 24, 2038 |
April 29, 2030 |
Amount offered (mln lei) |
500.0 |
600.0 |
Amount sold (mln lei) |
422.6 |
738.0 |
Total bids placed (mln lei) |
817.1 |
968.5 |
Bid-to-cover ratio |
1.93 |
1.31 |
Yield (%) |
7.77 |
7.27 |
Romania has sold approximately 38.39 billion lei worth of government securities year-to-date.
(1 euro=4.9316 lei)