November 19 (SeeNews) - Romania sold on Monday 693.9 million lei ($170 million/149 million euro) worth of Treasury notes maturing on October 27 2021, above the initial target, central bank data showed.
The average accepted yield fell to 4.05% from 4.50% achieved at the last auction of government securities of the same issue held in October, the data indicated.
Demand for T-notes, which carry an annual coupon of 4%, fell to 808.9 million lei on Monday from 1.45 billion lei at the auction in October.
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 |
November 19 |
October 18 |
Amount offered (mln lei) |
600.0 |
500.0 |
Amount sold (mln lei) |
693.9 |
888.4 |
Total bids placed (mln lei) |
808.9 |
1,456.4 |
Bid-to-cover ratio |
1.2 |
1.6 |
Yield (%) |
4.05 |
4.50 |
Romania's finance ministry plans to auction 4.7 billion lei worth of government securities in November, including 540 million lei in non-competitive offers.
Since the beginning of 2018, the finance ministry has sold roughly 37 billion lei and 361 million euro of domestic debt this year. It has also raised 3.75 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=4.6650 lei)