January 17 (SeeNews) - Romania sold on Thursday 389.4 million lei ($95 million/83 million euro) worth of Treasury notes maturing on February 12, 2029, slightly below initial target, central bank data showed.
The average accepted yield rose to 5.11% from 4.67% achieved at the previous auction of government securities of the same issue held in December, the data indicated.
Demand for the T-notes, which carry an annual coupon of 5%, fell to 593.4 million lei from 1.3 billion lei at the December auction.
The issue will be reopened on Friday when the finance ministry hopes to raise 60 million lei in a non-competitive tender.
Also on Thursday, the finance ministry rejected all bids on a 500 million lei treasure bills issue with January 20, 2020.
Details on the issue follow:
Auction date |
January 17 |
December 16 |
Amount offered (mln lei) |
400.0 |
400.0 |
Amount sold (mln lei) |
246.0 |
538.0 |
Total bids placed (mln lei) |
593.4 |
1,321.9 |
Bid-to-cover ratio |
1.48 |
3.30 |
Yield (%) |
5.11 |
4.74 |
Romania's finance ministry plans to auction 3.26 billion lei ($794 million/696 million euro) worth of government securities in January, including 360 million lei in non-competitive offers.
In 2018, the finance ministry has sold roughly 43 billion lei of government securities and has raised 3.75 billion euro on international markets from the sale of 2028 and 2030 Eurobonds, as well as $1.2 billion of 2048 dollar bonds.
Since the beginning of 2019, the finance ministry has sold roughly 1.4 billion lei and 83.5 million euro.
(1 euro=4.6890 lei)