July 12 (SeeNews) - Romania sold on Thursday 480 million lei ($121 million/103 million euro) worth of Treasury notes maturing on March 8, 2022, above the initial target, central bank data showed.
The average accepted yield fell to 4.52% from 4.57% 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 3.40%, rose to 1.19 billion lei on Thursday from 714.1 million lei at the auction in June.
The issue will be reopened on Friday when the finance ministry hopes to raise 60 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
July 12 |
June 7 |
Amount offered (mln lei) |
400.0 |
500.0 |
Amount sold (mln lei) |
480.0 |
500.0 |
Total bids placed (mln lei) |
1,192.3 |
714.1 |
Bid-to-cover ratio |
2.98 |
1.43 |
Yield (%) |
4.52 |
4.57 |
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 19.5 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=4.6596 lei)