November 22 (SeeNews) - Romania sold on Thursday 300 million lei ($73 million/64 million euro) worth of Treasury notes maturing on February 24, 2025, in line with target, central bank data showed.
The average accepted yield rose to 4.61% from 3.59% achieved at the previous auction of government securities of the same issue held in August 2017, the data indicated.
Demand for the T-notes, which carry an annual coupon of 4.75%, slightly rose to 661.4 million lei from 602.4 million lei at the last year auction.
The issue will be reopened on Friday when the finance ministry hopes to raise 45 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
November 22 |
August 21 |
Amount offered (mln lei) |
300.0 |
300.0 |
Amount sold (mln lei) |
300.0 |
487.4 |
Total bids placed (mln lei) |
661.4 |
602.4 |
Bid-to-cover ratio |
2.20 |
2.00 |
Yield (%) |
4.61 |
3.59 |
Romania's finance ministry plans to auction 4.7 billion lei worth of government securities in November, including 540 million lei in non-competitive offers.
Since the beginning of 2018, the finance ministry has sold roughly 37.5 billion lei and 361 million euro of domestic debt this year. It has also raised 3.75 billion euro on international markets from the sale of 2028 and 2030 Eurobonds, as well as $1.2 billion of 2048 dollar bonds.
(1 euro=4.6553 lei)