May 25 (SeeNews) - Romania on Thursday sold a planned 500 million lei ($121.5 million/109.3 million euro) of Treasury notes maturing on June 11, 2021, central bank data showed.
The average accepted yield was 2.31%, down from 3.06% achieved at the previous auction of government securities of the same issue held in September 2015, the data indicated.
Demand for the T-notes, which carry an annual coupon of 5.95%, rose to 1.713 billion lei from 427.5 million lei in the September 2015 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 |
May 25 |
Sept 2015 |
Amount offered (mln lei) |
500.0 |
200.0 |
Amount sold (mln lei) |
500.0 |
200.0 |
Total bids placed (mln lei) |
1,713.4 |
427.5 |
Bid-to-cover ratio |
3.43 |
2.10 |
Yield (%) |
2.31 |
3.06 |
Romania's finance ministry plans to auction 3.7 billion lei of government securities and to sell an additional 405 million lei in non-competitive offers in May.
In April, the finance ministry sold 3.925 billion lei in domestic debt paper and an additional 465 million lei in non-competitive offers, in line with target. Also in April, Romania raised 1.75 billion euro ($1.86 billion) by issuing a new 10-year Eurobond and reopening an existing Eurobond issue maturing in 2035.
So far this year, the finance ministry has sold some 17.9 billion lei, 240 million euro worth of bills and bonds and the above-mentioned 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= 4.5496 lei)