January 16 (SeeNews) - Romania sold on Monday 730.4 million lei ($171.6 million/162 million euro) of Treasury bonds maturing on December 19, 2022, more than double its plan, central bank data showed.
The average accepted yield in the auction fell to 3.14% from 3.15% at the previous auction of bonds of the same maturity held in December, the data indicated.
Demand for the government bonds, which carry an annual coupon of 3.50%, rose to 933.6 million lei from 535 million lei in December.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 45 million lei in a non-competitive tender.
Details about the issue follow:
Auction date |
January 16 |
December 5 |
Amount offered (mln lei) |
300.0 |
300.0 |
Amount sold (mln lei) |
730.4 |
300.0 |
Total bids placed (mln lei) |
933.6 |
535.0 |
Bid-to-cover ratio |
3.11 |
1.78 |
Yield (%) |
3.14 |
3.15 |
Romania's finance ministry plans to sell 3.1 billion lei worth of government securities in January, according to the debt issuance calendar for the month. The ministry also plans to sell an additional 315 million lei of government paper in non-competitive offers.
In December, the ministry sold 1.58 billion lei in domestic debt paper and an additional 270 million lei in non-competitive offers, below its initial target of 3.6 billion lei.
In 2016, the finance ministry has sold roughly 45 billion lei in local currency-denominated securities and 775 million euro in euro-denominated domestic debt and raised 3.25 billion euro on global markets.
(1 euro= 4.5064 lei)