July 13 (SeeNews) - Romania on Thursday sold a planned 700 million lei ($175 million/153 million euro) of Treasury notes maturing on February 25, 2019, central bank data showed.
The average accepted yield was 1.21%, up from 1.18% achieved at the previous auction of government securities of the same issue held in June, the data indicated.
Demand for the T-notes, which carry an annual coupon of 1.35%, rose to 2.03 billion lei from 1.75 billion lei in the June auction.
The issue will be reopened on Friday when the finance ministry hopes to raise 105 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
July 13 |
June 22 |
Amount offered (mln lei) |
700.0 |
800.0 |
Amount sold (mln lei) |
700.0 |
800.0 |
Total bids placed (mln lei) |
2,031.9 |
1,757.4 |
Bid-to-cover ratio |
2.90 |
2.19 |
Yield (%) |
1.21 |
1.18 |
Romania's finance ministry plans to auction 5.1 billion lei in government securities and to sell an additional 510 million lei in non-competitive offers in July.
In June, the finance ministry sold 5.235 billion lei and in domestic debt paper, an additional 515 million lei in non-competitive offers and 100 million euro ($114 million) in foreign currency debt paper, in line with target.
So far this year, the finance ministry has sold some 2.3 billion lei, 340 million euro worth of 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.
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=4.5625 lei)