Romania sells 80.3 mln euro of 2027 T-bonds, below target

The average accepted yield came in at 6.63%, compared to 6.64% achieved at the previous auction of government securities of the same issue held last month. Demand for the T-notes, which carry an annual coupon of 7.2%, fell to 469.4 million lei on Monday from 838 million lei at the previous auction.

The issue will be reopened on Wednesday, when the finance ministry hopes to raise an additional 90 million lei through a non-competitive tender.

Details follow:

Romania has sold about 107.894 billion lei worth of government securities year-to-date.

(1 euro=4.97 lei)