September 24 (SeeNews) - Romania on Monday sold 655 million lei ($166 million/141 million euro) of Treasury notes due on April 29 2024, above its initial target, central bank data showed.
The average accepted yield fell to 4.39% from 4.55% achieved at the last auction of government securities of the same issue held in August, the data indicated.
Demand for the T-notes, which carry an annual coupon of 3.25%, fell to 739.3 million lei from 1.04 billion lei at the auction in August.
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 |
September 24 |
August 20 |
Amount offered (mln lei) |
500.0 |
400.0 |
Amount sold (mln lei) |
655.0 |
500.0 |
Total bids placed (mln lei) |
739.3 |
1,042.6 |
Bid-to-cover ratio |
0.16 |
2.6 |
Yield (%) |
4.39 |
4.55 |
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 29 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=4.6578 lei)