In the first auction, the ministry raised RON363 million from an issue due in October 2029, below the prospectus level of RON400 million. Toral demand stood at RON418 million. The weighted average yield was 6.77% and the highest accepted yield reached 6.8%.
The average award price was 99.8860 and the lowest threshold accepted by the finance ministry was set at a price of 99.7932.
The auction was dominated by competitive bids placed exclusively by seven primary dealers, without customer participation.
On April, 27, the ministry also rejected all bids submitted by investors for another government bond issue, deeming the price “unacceptable”. Total demand neared RON256 million, below the indicative value of RON300 million.