February 3 (SeeNews) - Romania sold on Monday sold 902.7 million lei ($209 million/189 million euro) worth of Treasury notes maturing on September 24, 2031, above initial target, central bank data showed.
The average accepted yield for the tender fell to 4.50% from 4.72% achieved at the previous auction of government securities of the same issue held earlier this month, the data indicated.
Demand for the T-notes, which carry an annual coupon of 3.65%, fell to 1.23 billion lei from 1.37 billion lei at the previous auction.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 105 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
February 3 |
January 9 |
Amount offered (mln lei) |
700.0 |
600.0 |
Amount sold (mln lei) |
902.7 |
718.4 |
Total bids placed (mln lei) |
1,234.7 |
1,370.3 |
Bid-to-cover ratio |
1.4 |
1.9 |
Yield (%) |
4.50 |
4.72 |
The finance ministry intends to sell 5 billion lei worth of government securities in February, including 615 million lei in non-competitive offers.
So far this year, Romania has sold roughly 7 billion lei.
(1 euro=4.7788 lei)