February 24 (SeeNews) - Romania sold on Monday 775 million lei ($175 million/161 million euro) worth of Treasury notes maturing on August 8, 2022, above initial target, central bank data showed.
The average accepted yield fell to 3.14% from 3.66% achieved at the previous auction of government securities of the same issue held in January, the data indicated.
Demand for the T-notes, which carry an annual coupon of 4%, rose to 1.22 billion lei from 865.8 million lei at the previous auction.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 105 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
February 24 |
January 16 |
Amount offered (mln lei) |
700.0 |
800.0 |
Amount sold (mln lei) |
775.0 |
810.8 |
Total bids placed (mln lei) |
2,229.3 |
865.8 |
Bid-to-cover ratio |
2.9 |
1.1 |
Yield (%) |
3.14 |
3.66 |
The finance ministry intends to sell 5 billion lei worth of government securities in February, including 615 million lei in non-competitive offers.
So far this year, Romania has sold almost 13 billion lei of debt and tapped foreign markets for 3 billion euro ($3.3 billion) worth of 2032 and 2050 Eurobonds.
(1 euro=4.8024 lei)