December 20 (SeeNews) - Romania on Thursday sold 600 million lei ($148 million/129 million euro) of Treasury notes due on June 28 2023, in line with target, central bank data showed.
The average accepted yield fell to 4.34% from 4.52% achieved at the last auction of government securities of the same issue held in November, the data indicated.
Demand for the T-notes, which carry an annual coupon of 4.25%, fell to 925 million lei from 1.35 billion lei at the auction in November.
The issue will be reopened on Friday, when the finance ministry hopes to raise 90 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
December 20 |
November 15 |
Amount offered (mln lei) |
600.0 |
600.0 |
Amount sold (mln lei) |
600.0 |
644.0 |
Total bids placed (mln lei) |
925.0 |
1,350.7 |
Bid-to-cover ratio |
1.5 |
2.1 |
Yield (%) |
4.34 |
4.52 |
Romania's finance ministry plans to auction 4.3 billion lei worth of government securities in December, including 480 million lei in non-competitive offers.
Since the beginning of 2018, the finance ministry has sold roughly 43 billion lei of government securities and has raised 3.75 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=4.6589 lei)