Romania sells 299 mln euro of 2028, 2030 T-bonds, above target

The finance ministry sold 760.4 million lei worth of T-bonds maturing on April 29, 2030 at Monday's auction, above its 400 million lei target, the central bank said in a data release.

The average accepted yield was 6.72%, while demand for the T-bonds, which carry an annual coupon of 8%, rose to 940.4 million lei from 498.5 million lei at the previous auction.

The finance ministry also sold on Monday 726.5 million lei worth of government bonds maturing on October 30, 2028, above target.

The average accepted yield decreased to 6.68% from 6.73% achieved at the previous auction of bonds of the same issue held last month. Demand for the T-bonds carrying an annual coupon of 8.75% climbed to 976.5 million lei from 2.366 billion lei at the previous auction.

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

Details of the issues follow:

Romania has sold approximately 115.899 billion lei worth of government securities year-to-date.

(1 euro=4.97249 lei)