December 10 (SeeNews) - Romania on Monday sold above target 697.8 million lei ($171 million/150 million euro) of Treasury notes maturing on October 26, 2020, central bank data showed.
The average accepted yield fell to 3.48% from 3.75% achieved at the last auction of government securities of the same issue held in November, the data indicated.
Demand for T-notes, which carry an annual coupon of 2.30%, rose to 950.8 million lei on Monday from 600 million lei at the auction in November.
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 |
December 10 |
November 8 |
Amount offered (mln lei) |
600.0 |
600.0 |
Amount sold (mln lei) |
697.8 |
1,130.5 |
Total bids placed (mln lei) |
950.8 |
600.0 |
Bid-to-cover ratio |
1.58 |
1.88 |
Yield (%) |
3.48 |
3.75 |
Romania's finance ministry plans to auction 4.3 billion lei worth of government securities in December, including 480 million lei in non-competitive offers.
Since the beginning of 2018, the finance ministry has sold roughly 41 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.
(1 euro=4.6495 lei)