Romania sells 89 mln euro of 2027 bonds, below target

The average accepted yield inched down to 6.21%, from 6.27% achieved at the previous auction of government securities of the same issue held in January. Demand for the T-bonds, which have an annual coupon of 7.2%, fell to 528.2 billion lei from 867 million lei at the previous auction.

The issue will be reopened on Wednesday when the finance ministry hopes to raise an additional 75 million lei through a non-competitive tender.

Details follow:

Romania has sold about 16.83 billion lei worth of government securities year-to-date.

(1 euro=4.9773 lei)