February 19 (SeeNews) - Romania's finance ministry on Monday sold on target 500 million lei ($133 million/107 million euro) of Treasury notes maturing on October 26, 2020, central bank data showed.
The average accepted yield rose to 3.51% from 3.40% achieved at the last auction of government securities of the same issue held in January, the data indicated.
Demand for the T-notes, which carry an annual coupon of 2.30%, rose to 1.13 billion lei from 575.4 million lei at the auction in January.
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 |
Feb 19 |
Jan 25 |
Amount offered (mln lei) |
500.0 |
500.0 |
Amount sold (mln lei) |
500.0 |
500.0 |
Total bids placed (mln lei) |
1.136,5 |
575.4 |
Bid-to-cover ratio |
1.54 |
1.15 |
Yield (%) |
3.51 |
3.40 |
Romania's finance ministry plans to auction 3.1 billion lei worth of government securities and to sell an additional 390 million lei in non-competitive offers in February.
In January, it planned to raise 4.94 billion lei from the sale of government securities but only raised 3.4 billion lei.
Since the beginning of 2018, the finance ministry has sold roughly 5.2 billion lei worth of domestic debt and has raised 2 billion euro on international markets from the sale of 2028 and 2030 Eurobonds.
(1 euro=4.6609 lei)