November 11 (SeeNews) - Romania's finance ministry sold on Monday 792 million lei ($183 million/166 million euro) of Treasury bonds maturing on September 25 2023, above target, data from the country's central bank showed.
The average accepted yield rose to 3.86% from 3.80% achieved at the previous auction of government securities of the same issue held in October, the data indicated.
Demand for the T-notes, which carry an annual coupon of 4.40%, rose to 1.48 billion lei from 1.08 billion lei at the October 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 |
November 11 |
October 29 |
Amount offered (mln lei) |
500.0 |
400.0 |
Amount sold (mln lei) |
792.0 |
525.1 |
Total bids placed (mln lei) |
1,477.0 |
1.078.1 |
Bid-to-cover ratio |
1.9 |
2.1 |
Yield (%) |
3.86 |
3.80 |
Romania's finance ministry plans to auction 4.1 billion lei worth of government securities in November, including 510 million lei in non-competitive offers.
Since the beginning of 2019, the finance ministry has sold roughly 42.8 billion lei and 845 million euro worth of domestic government securities.
It also tapped foreign markets for 5 billion euro worth of 2026, 2034 and 2049 Eurobonds.
(1 euro=4.7627 lei)