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Romania sells planned 500 mln lei (106 mln euro) of 2023 T-notes, yield rises - table

Romania sells planned 500 mln lei (106 mln euro) of 2023 T-notes, yield rises  - table

BUCHAREST (Romania), September 16 (SeeNews) - Romania's finance ministry sold on Monday 500 million lei ($117 million/106 million euro) of a new issue of Treasury bonds maturing on September 25 2023, in line with target, data from the country's central bank showed.

The average accepted yield rose to 3.76% from 3.60% achieved at the previous auction of government securities of the same issue held in August, the data indicated.

Demand for the T-notes, which carry an annual coupon of 4.40%, fell to 525.1 million lei from 1.12 billion lei at the August auction.

The issue will be reopened on Tuesday when the finance ministry hopes to raise 75 million lei in a non-competitive tender.

Details on the issue follow:

Auction date September 16 August 28
Amount offered (mln lei) 500.0 600.0
Amount sold (mln lei) 500.0 600.0
Total bids placed (mln lei) 525.1 1,129.3
Bid-to-cover ratio 1.1 1.9
Yield (%) 3.76 3.60

The finance ministry plans to auction 3.98 billion lei worth of government securities in September, including 495 million lei in non-competitive offers.

Since the beginning of 2019, the finance ministry has sold roughly 35 billion lei and 507 million euro ($568 million) worth of domestic government securities.

It also tapped foreign markets for 5 billion euro worth of 2026, 2031, 2034 and 2049 Eurobonds.

(1 euro=4.7340 lei)