January 18 (SeeNews) - Romania's finance ministry sold on Monday sold 801.7 million lei ($198 million/164 million euro) of Treasury notes maturing on September 24 2031, above its initial target, data from the country's central bank showed.
The average accepted yield fell to 3.09% from 3.40% 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 3.65%, rose to 1.137 billion lei from 590.5 million 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 issues follow:
Auction date |
January 18 |
December 14 |
Amount offered (mln lei) |
500.0 |
400.0 |
Amount sold (mln lei) |
801.7 |
500.5 |
Total bids placed (mln lei) |
1,136.7 |
590.5 |
Bid-to-cover ratio |
1.42 |
1.18 |
Yield (%) |
3.09 |
3.40 |
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 4.8 billion lei worth of domestic bills and bonds.
(1 euro=4.8740 lei)