April 19 (SeeNews) - Romania on Thursday sold 514 million lei ($137 million/110 million euro) of Treasury notes maturing on October 27, 2021, above initial target, central bank data showed.
The average accepted yield fell to 3.56% from 3.88% achieved at the last auction of government securities of the same issue held in February, the data indicated.
Demand for the T-notes, which carry an annual coupon of 4%, fell to 544 million lei from 893.3 million lei at the auction in March.
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 |
April 19 |
March 8 |
Amount offered (mln lei) |
500.0 |
400.0 |
Amount sold (mln lei) |
514.0 |
510.0 |
Total bids placed (mln lei) |
544.0 |
893.3 |
Bid-to-cover ratio |
1.08 |
2.23 |
Yield (%) |
3.56 |
3.88 |
Romania's finance ministry plans to auction 3.82 billion lei worth of government securities, including 420 million lei in non-competitive offers in April.
Since the beginning of 2018, the finance ministry has sold roughly 11 billion lei and 252 million euro worth of domestic debt and has raised 2 billion euro on international markets from the sale of 2028 and 2030 Eurobonds.
(1 euro=4.6579 lei)