January 27 (SeeNews) - Romania's finance ministry sold on Monday 736.3 million lei ($170 million/154 million euro) of Treasury bonds maturing on September 25 2023, above its initial target, data from the country's central bank showed.
The average accepted yield for the tender rose to 3.78% from 3.58% achieved at the previous auction of government securities of the same issue held earlier this month, the data indicated.
Demand for the T-notes, which carry an annual coupon of 4.40%, rose to 2.1 billion lei from 1.1 billion lei at the previous auction.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 75 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
January 27 |
January 6 |
Amount offered (mln lei) |
500.0 |
500.0 |
Amount sold (mln lei) |
736.3 |
605.0 |
Total bids placed (mln lei) |
2,100.3 |
1,100.8 |
Bid-to-cover ratio |
2.9 |
1.8 |
Yield (%) |
3.78 |
3.58 |
So far this year, Romania has sold almost 5.6 billion lei of debt.
(1 euro=4.7798 lei)