July 8 (SeeNews) - Romania sold on Monday 998.9 million lei ($238 million/211 million euro) worth of Treasury bonds maturing on August 8 2022, above initial target, central bank data showed.
The average accepted yield fell to 3.85% from 3.95% achieved at the previous auction of government securities of the same issue held in June, the data indicated.
Demand for the T-notes, which carry an annual coupon of 4%, rose to 1.65 billion lei from 1.19 billion lei at the June auction.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 75 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
July 8 |
June 6 |
Amount offered (mln lei) |
500.0 |
500.0 |
Amount sold (mln lei) |
998.9 |
780.0 |
Total bids placed (mln lei) |
1,652.9 |
1,185.0 |
Bid-to-cover ratio |
1.7 |
1.6 |
Yield (%) |
3.85 |
3.95 |
The ministry planned to auction 4.4 billion lei worth of government securities in June and overshot its target, selling 7 billion lei.
Since the beginning of 2019, the finance ministry has sold roughly 27.2 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=4.7214 lei)