August 16 (SeeNews) - Romania on Thursday sold 91.9 million lei ($20 million/22 million euro) of Treasury notes due on September 24 2031, below its initial target, central bank data showed.
The average accepted yield fell to 5.2% from 5.32% achieved at the last auction of government securities of the same issue held in July, the data indicated.
Demand for the T-notes, which carry an annual coupon of 3.65%, fell to 134.9 million lei from 406.8 million lei at the auction in July.
The issue will be reopened on Friday, when the finance ministry hopes to raise 15 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
August 16 |
July 18 |
Amount offered (mln lei) |
100.0 |
400.0 |
Amount sold (mln lei) |
91.9 |
209.8 |
Total bids placed (mln lei) |
134.9 |
406.8 |
Bid-to-cover ratio |
1.35 |
1.9 |
Yield (%) |
5.20 |
5.32 |
Since the beginning of 2018, the finance ministry has sold roughly 23 billion lei and has raised 2 billion euro on international markets from the sale of 2028 and 2030 Eurobonds, as well as $1.2 billion of 2048 dollar bonds.
The ministry plans to auction 2.8 billion lei worth of government securities in August, including 330 million lei in non-competitive offers.
(1 euro=4.6586 lei)