The average award yield was 7.05% per year, close to the marginal yield accepted, indicating relative stability in financing costs for the Romanian State at this auction.
The RON500 million bond issue was oversubscribed almost three times, showing high investor interest for the Romanian government paper. Of the total demand, over RON1.35 billion came from competitive bids submitted mostly by primary dealers .
The finance ministry awarded the RON628.7 million amount, above the initial value announced, of which RON510 million was allocated to competitive bids and the remaining RON118.7 million to non-competitive bids.
The bonds mature in July 2031, have a coupon rate of 7.65%, and the nominal value of a bond is RON5,000.
The gross cost of financing attracted after the auction nears RON681.7 million, including the amassed interest.