September 14 (SeeNews) - Romania sold on Thursday 500 million lei ($129 million/109 million euro) worth of Treasury notes maturing on April 29, 2024, in line with target, central bank data showed.
The average accepted yield fell slightly to 3.36% from 3.37% achieved at the last auction of government securities of the same issue held in July, the data indicated.
Demand for T-notes, which carry an annual coupon of 3.25%, rose to 946.5 million lei on Thursday from 856.1 million lei at the auction in July.
The issue will be reopened on Friday when the finance ministry hopes to raise 75 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
September 14 |
July 11 |
Amount offered (mln lei) |
500.0 |
500.0 |
Amount sold (mln lei) |
500.0 |
500.0 |
Total bids placed (mln lei) |
946.5 |
856.1 |
Bid-to-cover ratio |
1.89 |
1.71 |
Yield (%) |
3.36 |
3.37 |
Romania's finance ministry plans to auction 3.9 billion lei worth of government securities and to sell an additional 405 million lei in non-competitive offers in September.
In August, the finance ministry sold 3.28 billion lei worth of domestic debt paper and an additional 345 million lei in non-competitive offers, slightly below target.
So far this year, the finance ministry has sold some 36 billion lei and 340 million euro worth of government bills and bonds and has tapped foreign markets for 1.75 billion euro of 2027 and 2035 Eurobonds.
In June, the ministry said it plans to sell 7.5 billion euro worth of eurobonds on the international markets in the following two years.
The ministry also 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=4.5984 lei)