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Romania sells 54.3 mln euro of 2038 T-bonds, above target

May 27, 2024, 3:12:23 PMArticle by Alexandru Cristea
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May 27 (SeeNews) - Romania sold on Monday 270 million lei ($58.9 million/54.3 million euro) worth of fixed-rate government securities maturing on February 24, 2038, above target, central bank data showed.

Romania sells 54.3 mln euro of 2038 T-bonds, above target

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)

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