Romania sells less than planned at T-bill tender
BUCHAREST, Oct 8 (Reuters) - Romania sold a less than planned 578 million lei ($165 million)in eleven-month treasury bills on Monday, with the average accepted yield at 6.02 percent against 5.26 percent at a July 9 tender, central bank data showed.
Debt managers had planned to sell 1 billion lei.
There has been good demand and yields have fallen in the last month following the resolution of a political crisis and after debt managers tapped international markets, bolstering Romania's funding buffer.
So far this year, Romania has sold 45.2 billion lei in bonds and bills on the domestic market.
Series: RO1213CTN0N0 Issue date: 10/10/2012 Auction date 08/10/2012 09/07/2012 Avg.yield (pct) 6.02 5.26 Avg. accepted 94.6755 95.1226 price Highest 6.10 5.41 accepted yield Tail (highest 0.08 0.15 yield minus average yield) Total bids 1.56 bln lei 1.68 bln lei Allotted 578.3 mln lei 700 mln lei Bid-to-cover 2.7 2.4 ratio ($1 = 3.4981 Romanian lei)
(Reporting by Radu Marinas; Editing by Sam Cage)
Keywords: ROMANIA DEBT/