Romania sells above 706 million lei (143 million euro) 2028 Treasury bond target, yields rise

BUCHAREST (Romania), September 20 (SeeNews) – The Romanian Ministry of Finance on Monday sold 706 million lei ($ 167 million / 143 million euros) at auction of Treasury bonds maturing on January 26, 2028, in below the initial target, according to data from the country’s central bank.

The average yield accepted for the tender was 3.65%, compared to 3.08% in the previous auction of government securities of the same issue held in June, the data said.

Demand for the T-notes, which carry an annual coupon of 4.15%, fell to 1.2 billion lei from 434.3 million lei in the previous auction.

The matter will be reopened on Tuesday, when the finance ministry hopes to raise 45 million lei in a non-competitive tender.

Details of the problem follow:

Auction date Sep 20 July 8
Amount offered (mln lei) 300.0 400.0
Amount sold (mln lei) 706.0 296.3
Total bids placed (mln lei) 1,201.1 434.3
Offer / coverage ratio 1.7 1.47
Yield (%) 3.65 3.08

The Romanian Ministry of Finance intends to sell 4.4 billion lei of government securities in September, including 405 million lei in non-competitive offers.

Since the beginning of the year, the Ministry of Finance has sold government bills and bonds worth 41 billion lei and 1.6 billion euros ($ 1.9 billion) and exploited the foreign markets for 7 billion euros of Eurobonds 2030, 2033 and 2041.

(1 euro = 4.9481 lei)

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