Romania attracted EUR1.5 billion at a five-year paper sale Thursday, at an annual yield of 5.29%. It was the first issue of the country’s new EUR7 billion medium-term notes program.
Book orders closed at EUR3 billion and Popa said Romania could have attracted the entire amount at the desired yield.
The central bank’s official said he was pleasantly surprised to learn that interest among investors in emerging Europe, particularly in Poland, has increased from previous auctions.
In March 2010, Romania sold EUR1 billion in five-year bonds at an annual yield of 5.17%. The issue carried a coupon of 5%, slightly lower compared with 5.25% on Thursday.