July 25 (SeeNews) - Romania sold on Monday 500 million lei ($123.5 million/112 million euro) in Treasury bonds due February 26, 2020, in line with target, central bank data showed.
The average accepted yield on the bonds fell to 2.0% from 2.25% at the previous auction, held in June, data published on the bank's website indicated.
Demand for the notes, which bear an annual coupon of 2.25%, was 1.22 billion lei, up from 1.21 million lei achieved in June.
The issue will be reopened on Tuesday, when the ministry hopes to raise an additional 75 million lei in a non-competitive tender.
Details about the issue follow:
Auction date |
July 25 |
June 6 |
Amount offered (mln lei) |
500.0 |
500.0 |
Amount sold (mln lei) |
500.0 |
500.0 |
Total bids placed (mln lei) |
1,221.6 |
1,205.6 |
Bid-to-cover ratio |
2.44 |
2.41 |
Yield (%) |
2.00 |
2.25 |
Romania's finance ministry plans to sell 3.2 billion lei in government securities in July, as well as an additional 255 million lei in non-competitive offers.
The ministry plans to hold one tender for 1 billion lei in one-year T-bills and for 500 million lei in six-month bonds and five T-bond auctions with outstanding maturities ranging between 2.9 and 8.6 years.
In June, the ministry sold 3.455 billion lei in government debt and an additional 365 million lei in non-competitive offers, in line with the initial target.
Romania's debt issuance plan for 2016 envisages domestic debt sales of some 48-50 billion lei, including 14-15 billion lei in T-bills and 34-35 billion lei in T-bonds.
So far this year, Romania has sold roughly 28.7 billion lei and 775 million euro ($862 million) worth of domestic debt, and has tapped 2.25 billion euro from foreign markets.
(1 euro=4.4444 lei)