August 25 (SeeNews) - Romania sold on Thursday 646.3 million lei ($163 million/145 million euro) in a new Treasury bonds issue due April 29, 2024, above target, central bank data showed.
The average accepted yield on the bonds was 2.63%, data published on the bank's website indicated.
Demand for the notes, which bear an annual coupon rate of 3.25%, was 1.70 billion lei.
The issue will be reopened on Friday, when the ministry hopes to raise an additional 75 million lei in a non-competitive tender.
Details about the issue follow:
Auction date |
August 25 |
Amount offered (mln lei) |
500.0 |
Amount sold (mln lei) |
646.3 |
Total bids placed (mln lei) |
1,703.6 |
Bid-to-cover ratio |
2.71 |
Yield (%) |
2.63 |
Romania's finance ministry's issuance plan for August envisages the sale of 4 billion lei in government securities. Also, the ministry plans to sell an additional 435 million lei in non-competitive offers.
In July, Romania issued debt worth 3.23 billion lei and 255 million lei in non-competitive offers, in line with the initial target.
Romania's debt issuance plan for 2016 envisages domestic debt sales of some 48-50 billion lei, including 14-15 billion lei in T-bills and 34-35 billion lei in T-bonds.
So far this year, Romania has sold roughly 33.3 billion lei and 775 million euro ($862 million) worth of domestic debt, and has tapped 2.25 billion euro from foreign markets.
(1 euro=4.4549 lei)