June 8 (SeeNews) - Romania's finance ministry sold on Thursday 2.65 billion lei ($573.8 million/534.9 million euro) worth of Treasury bonds maturing on February 24, 2038, way above its 600 million lei target, central bank data showed.
The average accepted yield was 7.04%, compared to 7.49% achieved at the previous auction of government securities of the same issue held in May.
Demand for the bonds, which carry an annual coupon of 7.9%, fell to 3.9 billion lei at Thursday’s auction from 5.406 billion lei at the previous auction.
The issue will be reopened on Monday, when the finance ministry hopes to raise an additional 90 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
June 8 |
May 25 |
Amount offered (mln lei) |
600.0 |
300.0 |
Amount sold (mln lei) |
2,650.0 |
3,798.2 |
Total bids placed (mln lei) |
3,900.3 |
5,405.9 |
Bid-to-cover ratio |
1.47 |
1.42 |
Yield (%) |
7.04 |
7.49 |
So far this year, Romania has sold some 55.345 billion lei worth of debt paper.
(1 euro=4.9543 lei)