January 19 (SeeNews) - Romania sold on Thursday 500 million lei ($118.5 million/111.3 million euro) of Treasury notes maturing on March 22, 2021, in line with target, central bank data showed.
The average accepted yield at the auction rose to 2.54% from 2.47% at the previous auction of government securities from the same issue held in December, the data indicated.
Demand for the government securities, which carry an annual coupon of 3.25%, rose to 926.3 million lei from 560.6 million lei in December.
The issue will be reopened on Friday when the finance ministry hopes to raise 75 million lei in a non-competitive tender.
Details about the issue follow:
Auction date |
January 19 |
December 12 |
Amount offered (mln lei) |
500.0 |
500.0 |
Amount sold (mln lei) |
500.0 |
424.6 |
Total bids placed (mln lei) |
926.3 |
560.6 |
Bid-to-cover ratio |
1.85 |
1.12 |
Yield (%) |
2.54 |
2.47 |
Romania's finance ministry plans to sell 3.1 billion lei worth of government securities in January, according to the debt issuance calendar for the month. The ministry also plans to sell an additional 315 million lei of government paper in non-competitive offers.
In December, the ministry sold 1.58 billion lei in domestic debt paper and an additional 270 million lei in non-competitive offers, below its initial target of 3.6 billion lei.
In 2016, the finance ministry has sold roughly 45 billion lei in local currency-denominated securities and 775 million euro in euro-denominated domestic debt and raised 3.25 billion euro on global markets.
(1 euro= 4.4927 lei)