Romania to issue 3.6 bln lei (798 mln euro) in domestic debt in Dec

Romania's finance ministry said on Tuesday it plans to auction 3.6 billion lei ($848 million/798 million euro) in government securities and to sell an additional 270 million lei in non-competitive offers in December, seenews.com reads.

The finance ministry plans to hold two tenders for 800 million lei in five month T-bills and for 1 billion lei in one-year T-bills. Also, the ministry will hold four auctions of T-bonds worth a combined 1.8 billion lei, with maturities ranging from two to six years.

In November, the ministry has sold 1.825 billion lei in domestic debt paper and an additional 330 million lei in non-competitive offers, below its initial target of 3 billion lei.

Year-to-date, the finance ministry has sold roughly 43.4 billion lei in local currency-denominated government paper and 775 million euro in euro-denominated domestic debt, and raised 3.25 billion euro on global markets.

Romania's debt issuance plan for 2016 envisages domestic debt sales of some 48-50 billion lei, including 14-15 billion lei in T-bills and 34-35 billion lei in T-bonds.

The finance ministry has also raised the ceiling of its Medium Term Notes programme launched in 2011 to 20 billion euro from 18 billion euro. Thus, Romania is to issue some 6.2 billion euro in Eurobonds in 2016 and 2017.

Developed by Codecraftsman