May 21 (SeeNews) - Romania sold on Thursday 933 million lei ($211 million/193 million euro) worth of Treasury notes maturing on August 8, 2022, above initial target, central bank data showed.
The average accepted yield rose to 3.52% from 3.73% achieved at the previous auction of government securities of the same issue held in April, the data indicated.
Demand for the T-notes, which carry an annual coupon of 4%, rose to 1.438 billion lei from 892.1 mllion lei at the previous auction.
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 |
May 21 |
April 6 |
Amount offered (mln lei) |
500.0 |
500.0 |
Amount sold (mln lei) |
933.0 |
742.1 |
Total bids placed (mln lei) |
1,438.0 |
892.1 |
Bid-to-cover ratio |
1.5 |
1.8 |
Yield (%) |
3.52 |
3.73 |
The finance ministry intends to sell 4.5 billion lei worth of government securities in May, including 465 million lei in non-competitive offers.
Year-to-date, the ministry has sold some 30 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.
(1 euro=4.8425 lei)