June 10 (SeeNews) - Romania sold on Monday 990.1 million lei ($236 million/210 million euro) worth of Treasury bonds maturing on June 17 2024, above initial target, central bank data showed.
The average accepted yield fell to 4.29% from 4.50% achieved at the previous auction of government securities of the same issue held in May, the data indicated.
Demand for the T-notes, which carry an annual coupon of 4.50%, rose to 1.68 billion lei from 1.16 billion lei at the May auction.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 90 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
June 10 |
May 16 |
Amount offered (mln lei)6 |
600.0 |
500.0 |
Amount sold (mln lei) |
990.1 |
424.0 |
Total bids placed (mln lei) |
1,682.2 |
1,160.0 |
Bid-to-cover ratio |
1.7 |
1.6 |
Yield (%) |
4.29 |
4.50 |
The finance ministry plans to auction 4.4 billion lei worth of government securities in June, including 500 million lei in non-competitive offers.
Since the beginning of 2019, the finance ministry has sold roughly 20.8 billion lei and 507 million euro ($568 million) worth of domestic government securities. It also tapped foreign markets for 3 billion euro worth of 2026, 2034 and 2049 Eurobonds.
(1 euro=4.7182 lei)