May 14 (SeeNews) - Romania on Monday sold 508.3 million lei ($132 million/110 million euro) of Treasury notes due on October 27, 2021, above initial target, central bank data showed.
The average accepted yield rose to 4.16% from 3.56% achieved at the last auction of government securities of the same issue held in April, the data indicated.
Demand for the T-notes, which carry an annual coupon of 4%, rose to 803.3 million lei from 544 million lei at the auction in April.
The issue will be reopened on Tuesday, when the finance ministry hopes to raise 75 million lei in a non-competitive tender.
Also on Monday, in a separate tender, the ministry sold below target 185.2 million lei in an auction of Treasury bills due on May 13, 2019.
Details on the issue follow:
Auction date |
May 14 |
April 19 |
Amount offered (mln lei) |
500.0 |
500.0 |
Amount sold (mln lei) |
508.3 |
514.0 |
Total bids placed (mln lei) |
803.3 |
544.0 |
Bid-to-cover ratio |
1.60 |
1.08 |
Yield (%) |
4.16 |
3.56 |
Romania's finance ministry said it plans to auction 3.84 billion lei worth of government securities, including 435 million lei in non-competitive offers in May.
Since the beginning of 2018, the finance ministry has sold roughly 14.5 billion lei and 252 million euro worth of domestic debt and has raised 2 billion euro on international markets from the sale of 2028 and 2030 Eurobonds.
(1 euro=4.6289 lei)