July 22 (SeeNews) - Romania's finance ministry sold on Monday 706.5 million lei ($168 million/150 million euro) of a new issue of Treasury notes maturing on September 25 2023, above initial target, data from the country's central bank showed.
The average accepted yield fell to 3.89% from 4.02% 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 4.40%, rose to 1.29 billion lei from 710 million lei at the June auction.
The issue will be reopened on Tuesday when the finance ministry hopes to raise 90 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
July 22 |
June 24 |
Amount offered (mln lei) |
600.0 |
500.0 |
Amount sold (mln lei) |
706.5 |
500.0 |
Total bids placed (mln lei) |
1,294.5 |
710.6 |
Bid-to-cover ratio |
1.8 |
1.4 |
Yield (%) |
3.89 |
4.02 |
Since the beginning of 2019, the finance ministry has sold roughly 29 billion lei and 507 million euro ($568 million) worth of domestic government securities.
It also tapped foreign markets for 3 billion euro worth of 2026, 2034 and 2049 Eurobonds.
(1 euro= 4.7231 lei)