November 2 (SeeNews) - Romania plans to issue 6.0 billion lei ($2.1 billion/1.4 billion euro) worth of government securities in November to finance and re-finance public debt, data from the country's Finance Ministry showed on Monday.
The ministry said in a statement it will auction 1.8 billion lei worth of benchmark T-notes this month. An auction of five-year Treasury notes worth 950 million lei in par value is scheduled for November 5, and an auction of three-year T-notes, worth 850 million lei, will be held on November 19.
The ministry will also issue 4.2 billion lei worth of six-month and 12-month discount Treasury bills this month. An auction for 1.2 billion lei in six-month T-bills is scheduled for today and another one of 800 million lei is scheduled for November 16. The ministry also said it will hold two auctions of 12-month T-bills worth 1.2 billion and 1.0 billion lei on November 9 and 23, respectively.
Romania auctioned government securities worth nearly 12 billion lei last year, up from 8.7 billion lei in 2007. It has sold 50.98 billion lei in government debt paper so far this year.
The country liberalised its capital market in 2006, giving foreign nationals free access to its government securities. Romania joined the European Union in 2007.
(1 euro = 4.3072 Romanian lei)