July 10 (SeeNews) - Romania on Monday sold a planned 500 million lei ($124.6 million/109.4 million euro) worth of Treasury notes maturing on April 29, 2024, central bank data showed.
The average accepted yield rose to 3.37%, up from 3.22% achieved at the previous auction of government securities of the same issue held in June, the data indicated.
Demand for the T-notes, which carry an annual coupon of 3.25%, fell to 856.1 million lei from 1.04 billion lei in the June auction.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 75 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
July 10 |
June 19 |
Amount offered (mln lei) |
500.0 |
500.0 |
Amount sold (mln lei) |
500.0 |
611.7 |
Total bids placed (mln lei) |
856.1 |
1,046.7 |
Bid-to-cover ratio |
1.71 |
2.09 |
Yield (%) |
3.37 |
3.22 |
Romania's finance ministry plans to auction 5.1 billion lei in government securities and to sell an additional 510 million lei in non-competitive offers in July.
In June, the finance ministry sold 5.235 billion lei and in domestic debt paper, an additional 515 million lei in non-competitive offers and 100 million euro ($114 million) in foreign currency debt paper, in line with target.
So far this year, the finance ministry has sold some 26 billion lei, 340 million euro worth of government debt paper and has tapped foreign markets for 1.75 billion euro of 2027 and 2035 Eurobonds.
Earlier in June, the ministry said it plans to sell 7.5 billion euro worth of eurobonds on the international markets in the following two years.
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=4.5684 lei)