August 24 (SeeNews) - Romania sold on Thursday 500 million lei ($128 million/109 million euro) worth of Treasury notes maturing on March, 2022, in line with target, central bank data showed.
The average accepted yield rose to 2.65% from 2.54% achieved at the previous auction of government securities of the same issue held in July, the data indicated.
Demand for the T-notes, which carry an annual coupon of 3.40%, fell to 597.4 million lei from 735.7 million lei at the July auction.
The issue will be reopened on Friday when the finance ministry hopes to raise 75 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
August 24 |
July 27 |
Amount offered (mln lei) |
500.0 |
300.0 |
Amount sold (mln lei) |
500.0 |
300.0 |
Total bids placed (mln lei) |
597.4 |
735.7 |
Bid-to-cover ratio |
1.19 |
2.45 |
Yield (%) |
2.65 |
2.54 |
Romania's finance ministry plans to auction 3.4 billion lei in government securities and to sell an additional 345 million lei in non-competitive offers in August.
In July, the finance ministry sold 5.17 billion lei worth of domestic debt paper in auctions and an additional 390 million lei in non-competitive offers, slightly below target.
So far this year, the finance ministry has sold some 33 billion lei and 340 million euro worth of bills and bonds and has tapped foreign markets for 1.75 billion euro of 2027 and 2035 Eurobonds.
At the beginning of March, the ministry said it plans to sell about 2.5-3.0 billion euro worth of Eurobonds on the international markets and some 48-50 billion lei worth of leu-denominated domestic debt this year.
(1 euro= 4.5886 lei)