January 21 (SeeNews) - Romania on Thursday sold 1.547 billion lei ($385 million/317 million euro) worth of Treasury notes issue maturing on June 24 2026, above initial target, central bank data showed.
The average accepted yield fell to 2.38% from 396% 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 3.25%, rose to 2.6 billion lei from 1.11 billion lei at the previous auction.
The issue will be reopened on Friday when the finance ministry hopes to raise 90 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
January 21 |
December 10 |
Amount offered (mln lei) |
600.0 |
600.0 |
Amount sold (mln lei) |
1,547.0 |
781.0 |
Total bids placed (mln lei) |
2,608.0 |
1,115.2 |
Bid-to-cover ratio |
1.7 |
1.4 |
Yield (%) |
2.38 |
2.96 |
Romania's finance ministry intends to sell 5.1 billion lei worth of government securities in January, including 615 million lei in non-competitive offers.
So far this year, the finance ministry has sold some 6.6 billion lei worth of domestic bills and bonds.
(1 euro=4.8738 lei)