September 25 (SeeNews) - Romania's finance ministry sold on Monday two issues of Treasury notes worth a total 1.87 billion lei ($401 million/377.4 million euro), central bank data showed.
The finance ministry sold 728.5 million lei worth of T-bonds maturing on May 31, 2027 at Monday's auction, above its 700-million-lei target, the central bank said in a data release.
The average accepted yield was 6.49%, compared to 6.44% achieved at the previous auction of government securities of the same issue held last month. Demand for the T-bonds, which carry an annual coupon of 7.2%, fell to 738.5 million lei from 754.7 million lei at the previous auction.
The finance ministry also sold on Monday 1.147 billion lei worth of government bonds maturing on October 30, 2033, above target.
The average accepted yield went down to 6.9% from 6.98% achieved at the previous auction of bonds of the same issue held in August. Demand for the T-bonds carrying an annual coupon of 7.2% rose to 1.55 billion lei from 767.4 million lei at the previous auction.
Both issues will be reopened on Wednesday when the finance ministry hopes to raise an additional total 210 million lei through non-competitive tenders.
Details of the issues follow:
| Maturity |
May 31, 2027 |
Oct 30, 2033 |
| Amount offered (mln lei) |
700.0 |
700.0 |
| Amount sold (mln lei) |
728.5 |
1,147.1 |
| Total bids placed (mln lei) |
738.5 |
1,550.1 |
| Bid-to-cover ratio |
1.0 |
1.4 |
| Yield (%) |
6.49 |
6.90 |
So far this year, Romania has sold some 80.634 billion lei worth of debt paper.
(1 euro=4.96834 lei)