August 7 (SeeNews) - Romania on Monday sold 200 million lei ($52 million/44 million euro) of Treasury notes maturing on July 26, 2027, central bank data showed.
The average accepted yield fell to 3.92%, down from 3.97% achieved at the previous auction of government securities of the same issue held in July, the data indicated.
Demand for the T-notes, which carry an annual coupon of 5.80%, fell to 470 million lei from 1.07 billion lei at the July auction.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 30 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
August 7 |
July 6 |
Amount offered (mln lei) |
200.0 |
300.0 |
Amount sold (mln lei) |
200.0 |
300.0 |
Total bids placed (mln lei) |
470.0 |
1,071.2 |
Bid-to-cover ratio |
2.35 |
3.57 |
Yield (%) |
3.92 |
3.97 |
Romania's finance ministry plans to auction 3.4 billion lei in government securities and to sell an additional 345 million lei in non-competitive offers in August.
In July, the finance ministry sold 5.17 billion lei worth of domestic debt paper in auctions and an additional 390 million lei in non-competitive offers, slightly below target.
So far this year, the finance ministry has sold some 31 billion lei and 340 million euro worth of bills and bonds and has tapped foreign markets for 1.75 billion euro of 2027 and 2035 Eurobonds.
At the beginning of March, the ministry said it plans to sell about 2.5-3.0 billion euro worth of Eurobonds on the international markets and some 48-50 billion lei worth of leu-denominated domestic debt this year.
(1 euro= 4.5657 lei)