February 9 (SeeNews) - Romania on Thursday sold a planned 600 million lei ($142 million/133 million euro) of Treasury notes maturing on February 26, 2020, central bank data showed.
The average accepted yield at the auction rose to 2.20% from 2.05% at the previous auction of government securities from the same issue held in January, the data indicated.
Demand for the T-notes, which carry an annual coupon of 2.25%, rose to 1.57 billion lei from 562.2 million lei in January.
The issue will be reopened on Friday when the finance ministry hopes to raise 90 million lei in a non-competitive tender.
Details about the issue follow:
Auction date |
February 9 |
January 16 |
Amount offered (mln lei) |
600.0 |
500.0 |
Amount sold (mln lei) |
600.0 |
265.2 |
Total bids placed (mln lei) |
1,577.8 |
562.2 |
Bid-to-cover ratio |
2.62 |
1.12 |
Yield (%) |
2.20 |
2.05 |
Romania's finance ministry plans to sell 3.9 billion lei worth of government securities in February, according to the debt issuance calendar for the month. The ministry also plans to sell an additional 315 million lei of government paper in non-competitive offers.
In January, the ministry sold 3.125 billion lei in domestic debt paper and an additional 315 million lei in non-competitive offers, in line with target. However, at some of the tenders, they sold less than planned as domestic political and social unrest intensify, and the budget draft is still suspended between the government and the parliament.
The finance ministry has sold some 4.3 billion lei worth of leu bills and bonds so far this year.
In 2016, the finance ministry sold roughly 45 billion lei in leu-denominated government securities and 775 million euro in euro-denominated domestic debt and raised 3.25 billion euro on global markets.
(1 euro=4.4956 lei)