December 4 (SeeNews) - Romania sold on Monday 621.7 million lei ($159 million/137 million euro) of Treasury notes maturing on July 26, 2027, above target, central bank data showed.
The average accepted yield rose to 4.53% from 3.9% achieved at the last auction of government securities of the same issue held in September, the data indicated.
Demand for the T-notes, which carry an annual coupon of 5.80%, rose to 1.33 billion lei from 400 million lei at the auction in September.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 60 million lei in a non-competitive tender.
Details on the issue follow:
| Auction date |
Dec 4 |
Sep 11 |
| Amount offered (mln lei) |
400.0 |
200.0 |
| Amount sold (mln lei) |
621.7 |
200.0 |
| Total bids placed (mln lei) |
1,338.7 |
400.0 |
| Bid-to-cover ratio |
3.35 |
2.00 |
| Yield (%) |
4.53 |
3.90 |
The ministry has rejected all bids in three auctions of government securities held in November. The ministry originally planned to raise 2.7 billion lei and an additional 330 million lei in non-competitive offers last month, but it only managed to sell some 1.16 billion lei.
Romania's finance ministry plans to auction 2.5 billion lei worth of government securities and to sell an additional 315 million lei in non-competitive offers in December.
Year-to-date, the ministry has sold some 38.5 billion lei and 340 million euro worth of government bills and bonds and has tapped foreign markets for 2.75 billion euro of 2027 and 2035 Eurobonds.
The ministry has said it plans to sell some 48-50 billion lei worth of leu-denominated domestic debt this year.
(1 euro= 4.6334 lei)