Romania sells less than expected 572 million lei (116 million euros) of 2024 Treasury bonds, yields rise


BUCHAREST (Romania), June 3 (SeeNews) – Romania on Thursday sold 571.8 million lei ($ 142 million / 116 million euros) of Treasury bonds due November 25, 2024, below l ‘initial goal, according to central bank data.

The average accepted yield was 2.43% compared to 2.38% in the previous auction of government securities of the same issue held in May, the data said.

Demand for the T-notes, which carry an annual coupon of 3.70%, fell to 594 million lei from 699 million lei in the previous auction.

The matter will be reopened on Friday when the finance ministry hopes to raise 90 million lei in a non-competitive tender.

Details of the problem follow:

Auction date June 3 May 6
Amount offered (mln lei) 600.0 600.0
Amount sold (mln lei) 571.8 699.2
Total bids placed (mln lei) 593.8 779.2
Offer / coverage ratio 1.04 1.1
Yield (%) 2.43 2.38

The Romanian Ministry of Finance intends to sell 5.125 billion lei of government securities in June, including 525 million lei of non-competitive offers.

So far this year, the Ministry of Finance has sold bonds and government bonds for 25.3 billion lei and 1.48 billion euros ($ 1.76 billion) and exploited foreign markets for 3.5 billion euros in 12 and 20 year Eurobonds.

(1 euro = 4.9227 lei)

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