The ministry planned to sell RON400 million worth of paper at today’s auction. Banks offered a total of RON566.5 million, but the ministry rejected all yields above 7.65% a year.
At the latest similar auction July 21, the ministry sold roughly RON388 million in 10-year paper, at 7.46% annual average yield.
The ministry sold debt worth roughly RON2.6 billion in August, significantly down from RON4.24 billion sold a month earlier.
So far this year, Romania sold around RON40.8 billion (EUR9.6 billion) in leu-denominated state notes. Additionally, two foreign currency bond auctions have brought the ministry EUR1.4 billion, while an international debt sale early June raised EUR1.5 billion. (EUR1=RON4.2525)