Romania sells 68 mln euro of 2038 T-bonds, above target

The average accepted yield rose to 6.55%, from 6.43% achieved at the previous auction of government securities of the same issue held in January. Demand for the T-bonds, which have an annual coupon of 7.9%, rose to 729 billion lei from 453.1 million lei at the previous auction.

The issue will be reopened on Monday when the finance ministry hopes to raise an additional 30 million lei through a non-competitive tender.

Details follow:

Romania has sold about 17.245 billion lei worth of government securities year-to-date.

(1 euro=4.97683 lei)