April 6 (SeeNews) - Romania sold on Monday 742.1 million lei ($166 million/154 million euro) worth of Treasury notes maturing on August 8, 2022, above initial target, central bank data showed.
The average accepted yield rose to 3.73% from 3.55% achieved at the previous auction of government securities of the same issue held in March, the data indicated.
Demand for the T-notes, which carry an annual coupon of 4%, fell to 892.1 million lei from 1.245 billion lei at the previous auction.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 75 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
April 6 |
March 23 |
Amount offered (mln lei) |
500.0 |
700.0 |
Amount sold (mln lei) |
742.1 |
715.0 |
Total bids placed (mln lei) |
892.1 |
1,245.0 |
Bid-to-cover ratio |
1.8 |
1.7 |
Yield (%) |
3.73 |
3.55 |
Year-to-date, the ministry has sold some 19.3 billion lei and 150 million euro worth of government bills and bonds and has tapped foreign markets for 3 billion euro of 2032 and 2050 Eurobonds.
For 2020, the finance ministry plans to issue eurobonds worth about 6 billion euro.
(1 euro=4.8280 lei)