February 6 (SeeNews) - Romania's finance ministry on Thursday sold 1.163 billion lei ($269 million/244 million euro) of Treasury bonds maturing on February 12, 2029, above initial target, data from the country's central bank showed.
The average accepted yield for the tender fell to 4.17% from 4.67% achieved at the previous auction of government securities of the same issue held in December, the data indicated.
Demand for the T-notes, which carry an annual coupon of 5%, rose to 2.28 billion lei from 1.49 billion lei at the previous auction.
The issue will be reopened on Friday, when the finance ministry hopes to raise 75 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
February 6 |
December 9 |
Amount offered (mln lei) |
500.0 |
500.0 |
Amount sold (mln lei) |
1,163.2 |
832.8 |
Total bids placed (mln lei) |
2,283.2 |
1,498.4 |
Bid-to-cover ratio |
2.0 |
1.8 |
Yield (%) |
4.17 |
4.67 |
The finance ministry intends to sell 5 billion lei worth of government securities in February, including 615 million lei in non-competitive offers.
So far this year, Romania has sold roughly 8.16 billion lei.
(1 euro=4.7651 lei)