January 4 (SeeNews) - Romania sold on Thursday 460 million lei ($120 million/99 million euro) of Treasury notes maturing on April 29, 2020, above target, central bank data showed.
The average accepted yield rose to 3.11% from 1.85% achieved at the last auction of government securities of the same issue held in September 2017, the data indicated.
Demand for the T-notes, which carry an annual coupon of 5.75%, fell to 878.8 million lei from 1.03 billion lei at the auction in September.
The issue will be reopened on Friday when the finance ministry hopes to raise 30 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
Jan 4 |
Sept 7 |
Amount offered (mln lei) |
200.0 |
500.0 |
Amount sold (mln lei) |
460.0 |
500.0 |
Total bids placed (mln lei) |
878.8 |
1,038.0 |
Bid-to-cover ratio |
4.39 |
2.1 |
Yield (%) |
3.11 |
1.85 |
Romania's finance ministry plans to auction 4.4 billion lei worth of government securities and to sell an additional 540 million lei in non-competitive offers in January.
The ministry planned to raise 2.81 billion lei from the sale of government securities in December but it has only raised 1.33 billion lei.
(1 euro=4.6304 lei)