Romania sells 89 mln euro of 2029 T-bonds, below target

The average accepted yield fell to 6.32%, from 7.75% achieved at the previous auction of government securities of the same issue held in August, 2022. Demand for the T-bonds, which have an annual coupon of 5%, fell to 531.3 million lei from 1.248 billion lei at the previous auction.

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

Details follow:

Romania has sold about 18.296 billion lei worth of government securities year-to-date.

(1 euro = 4.969 lei)