June 3 (SeeNews) - Romania sold on Thursday 571.8 million lei ($142 million/116 million euro) worth of Treasury bonds maturing on November 25, 2024, below initial target, central bank data showed.
The average accepted yield rose to 2.43% from 2.38% achieved at the previous auction of government securities of the same issue held in May, the data indicated.
Demand for the T-notes, which carry an annual coupon of 3.70%, fell to 594 million lei from 699 million lei at the previous auction.
The issue will be reopened on Friday when the finance ministry hopes to raise 90 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
June 3 |
May 6 |
Amount offered (mln lei) |
600.0 |
600.0 |
Amount sold (mln lei) |
571.8 |
699.2 |
Total bids placed (mln lei) |
593.8 |
779.2 |
Bid-to-cover ratio |
1.04 |
1.1 |
Yield (%) |
2.43 |
2.38 |
Romania's finance ministry intends to sell 5.125 billion lei worth of government securities in June, including 525 million lei in non-competitive offers.
So far this year, the finance ministry has sold government bills and bonds worth 25.3 billion lei and 1.48 billion euro ($1.76 billion) and has tapped foreign markets for 3.5 billion euro worth of 12- and 20-year Eurobonds.
(1 euro=4.9227 lei)