August 19 (SeeNews) - Romania sold on Monday 675 million lei ($160 million/143 million euro) worth of Treasury bonds maturing on August 8 2022, above initial target, central bank data showed.
The average accepted yield fell to 3.38% from 3.85% achieved at the previous auction of government securities of the same issue held in July, the data indicated.
Demand for the T-notes, which carry an annual coupon of 4%, fell to 1.08 billion lei from 1.65 billion lei at the July auction.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 90 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
August 19 |
July 8 |
Amount offered (mln lei) |
600.0 |
500.0 |
Amount sold (mln lei) |
675.0 |
998.9 |
Total bids placed (mln lei) |
1,087.2 |
1,652.9 |
Bid-to-cover ratio |
1.6 |
1.7 |
Yield (%) |
3.38 |
3.85 |
The finance ministry plans to auction 4 billion lei worth of government securities in August, including 495 million lei in non-competitive offers.
Since the beginning of 2019, the finance ministry has sold roughly 32 billion lei and 507 million euro ($563 million) worth of domestic government securities.
It also tapped foreign markets for 3 billion euro worth of 2026, 2034 and 2049 Eurobonds.
(1 euro=4.7284 lei)