September 20 (SeeNews) - Romania sold on Thursday 580.7 million lei ($146 million/125 million euro) worth of Treasury notes maturing on March 8, 2022, above the initial target, central bank data showed.
The average accepted yield rose to 4.22% from 4.19% achieved at the last auction of government securities of the same issue held in August, the data indicated.
Demand for T-notes, which carry an annual coupon of 3.40%, fell to 625.7 million lei on Thursday from 1 billion lei at the auction in August.
The issue will be reopened on Friday when the finance ministry hopes to raise 75 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
September 20 |
August 23 |
Amount offered (mln lei) |
500.0 |
300.0 |
Amount sold (mln lei) |
580.7 |
490.0 |
Total bids placed (mln lei) |
625.7 |
1,001.4 |
Bid-to-cover ratio |
1.25 |
3.34 |
Yield (%) |
4.22 |
4.19 |
Romania's finance ministry plans to auction 3.9 billion lei worth of government securities in September, including 435 million lei in non-competitive offers
Since the beginning of 2018, the finance ministry has sold roughly 28 billion lei and has raised 2 billion euro on international markets from the sale of 2028 and 2030 Eurobonds, as well as $1.2 billion of 2048 dollar bonds.
(1 euro=4.6519 lei)