September 13 (SeeNews) - Romania on Thursday sold above target 713.3 million lei ($179 million/154 million euro) of Treasury notes maturing on October 26, 2020, central bank data showed.
The average accepted yield rose to 3.90% from 3.80% achieved at the last auction of government securities of the same issue held in August, the data indicated.
Demand for T-notes, which carry an annual coupon of 2.30%, rose to 713.3 million lei on Thursday from 509.2 million lei at the auction in August.
The issue will be reopened on Friday, when the finance ministry hopes to raise 75 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
September 13 |
August 27 |
Amount offered (mln lei) |
500.0 |
300.0 |
Amount sold (mln lei) |
713.3 |
339.2 |
Total bids placed (mln lei) |
773.3 |
509.2 |
Bid-to-cover ratio |
1.55 |
1.70 |
Yield (%) |
3.90 |
3.80 |
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 27 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=4.6391 lei)