May 25 (SeeNews) - Romania sold on Monday 1.089 billion lei ($245 million/225 million euro) worth of Treasury notes maturing on April 24, 2024, above initial target, central bank data showed.
The average accepted yield fell to 3.74% from 3.98% achieved at the previous auction of government securities of the same issue held in April, the data indicated.
Demand for the T-notes, which carry an annual coupon of 3.25%, surged to 1.222 billion lei from 355 million lei at the previous 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 |
May 25 |
April 2 |
Amount offered (mln lei) |
500.0 |
500.0 |
Amount sold (mln lei) |
1,089.4 |
261.0 |
Total bids placed (mln lei) |
1,222.4 |
355.0 |
Bid-to-cover ratio |
1.1 |
1.4 |
Yield (%) |
3.74 |
3.89 |
The finance ministry intends to sell 4.5 billion lei worth of government securities in May, including 465 million lei in non-competitive offers.
Year-to-date, the ministry has sold some 31.2 billion lei and 150 million euro worth of government bills and bonds and has tapped foreign markets for 3 billion euro of 2032 and 2050 Eurobonds.
(1 euro=4.8396 lei)