Romania sells 611.7 mln lei (133 mln euro) of 2024 T-notes, yield falls - table

Romania sells 611.7 mln lei (133 mln euro) of 2024 T-notes, yield falls - table Romania's finance ministry

BUCHAREST (Romania), June 19 (SeeNews) - Romania on Monday sold 611.7 million lei ($149 million/133 million euro) worth of Treasury notes maturing on April 29, 2024, overshooting its target, central bank data showed.

The average accepted yield was 3.22%, down from 3.46% achieved at the previous auction of government securities of the same issue held in May, the data indicated.

Demand for the T-notes, which carry an annual coupon of 3.25%, rose to 1.04 billion lei from 783.2 million lei in the May auction.

The issue will be reopened on Tuesday when the finance ministry hopes to raise 75 million lei in a non-competitive tender.

Details on the issue follow:

Auction date June 19 May 4
Amount offered (mln lei) 500.0 400.0
Amount sold (mln lei) 611.7 445.2
Total bids placed (mln lei) 1,046.7 783.2
Bid-to-cover ratio 2.09 1.95
Yield (%) 3.22 3.46

Romania's finance ministry plans to auction 5.3 billion lei of government securities and to sell an additional 525 million lei in non-competitive offers in June. The ministry also plans to sell 100 million euro in euro-denominated bonds in June.

In May, the finance ministry sold 3.769 billion lei worth of domestic debt paper and an additional 405 million lei in non-competitive offers, in line with target.

So far this year, the finance ministry has sold some 22.7 billion lei, 240 million euro worth of bills and bonds and has tapped foreign markets for 1.75 billion euro of 2027 and 2035 Eurobonds.

At the beginning of March, the ministry said it plans to sell about 2.5-3.0 billion euro worth of Eurobonds on the international markets and some 48-50 billion lei worth of leu-denominated domestic debt this year.

(1 euro= 4.5859 lei)

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