July 24 (SeeNews) - Romania on Monday sold 700 million lei ($177 million/153 million euro) of Treasury notes maturing on April 26, 2023, central bank data showed.
The average accepted yield was 2.99%, down from 3.18% achieved at the previous auction of government securities of the same issue held in October 2015, the data indicated.
Demand for the T-notes, which carry an annual coupon of 5.85%, rose to 809 million lei from 319 million lei in the October 2015 auction.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 105 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
July 24 |
October 12, 2015 |
Amount offered (mln lei) |
700.0 |
200.0 |
Amount sold (mln lei) |
700.0 |
200.0 |
Total bids placed (mln lei) |
809.0 |
319.0 |
Bid-to-cover ratio |
1.15 |
1.59 |
Yield (%) |
2.99 |
3.18 |
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.
Since the beginning of 2017, the finance ministry has sold some 28 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.
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=4.5737 lei)