The average accepted yield was 6.9% at Monday's auction. Demand for the government securities, which have an annual coupon of 7.9%, climbed to 494 million lei, from 222.7 million lei at the previous auction of the same issue held in April, when Romania's finance ministry rejected all bids submitted.
The issue will be reopened on Wednesday when the finance ministry hopes to raise an additional 30 million lei through a non-competitive tender.
Details follow:
Auction date | May 27, 2024 | April 8, 2024 |
Amount offered (mln lei) | 200.0 | 300.0 |
Amount sold (mln lei) | 270.0 | 0.0 |
Total bids placed (mln lei) | 494.0 | 222.7 |
Bid-to-cover ratio | 1.8 | - |
Yield (%) | 6.90 | - |
Romania has sold about 48.792 billion lei worth of government securities year-to-date.
(1 euro=4.9767 lei)