January 26 (SeeNews) - Romania sold on Thursday 146.8 million lei ($34.9 million/32.6 million euro) of Treasury bonds maturing on July 26, 2027, well below target, central bank data showed.
The average accepted yield at the auction rose to 3.96% from 3.13% at the previous auction of government securities from the same issue held in September, the data indicated.
Demand for the government bonds, which carry an annual coupon of 5.80%, rose to 194.8 million lei from 174.6 million lei in September.
The issue will be reopened on Friday when the finance ministry hopes to raise 45 million lei in a non-competitive tender.
Details about the issue follow:
Auction date |
January 26 |
September 1 |
Amount offered (mln lei) |
300.0 |
300.0 |
Amount sold (mln lei) |
146.8 |
100.6 |
Total bids placed (mln lei) |
194.8 |
174.6 |
Bid-to-cover ratio |
0.65 |
1.73 |
Yield (%) |
3.96 |
3.13 |
Romania's finance ministry plans to sell 3.1 billion lei worth of government securities in January, according to the debt issuance calendar for the month. The ministry also plans to sell an additional 315 million lei of government paper in non-competitive offers.
In December, the ministry sold 1.58 billion lei in domestic debt paper and an additional 270 million lei in non-competitive offers, below its initial target of 3.6 billion lei.
In 2016, the finance ministry sold roughly 45 billion lei in local currency-denominated securities and 775 million euro in euro-denominated domestic debt and raised 3.25 billion euro on global markets.
(1 euro= 4.4983 lei)