It was for the second time this year the ministry has failed to raise any money. Banks offered RON360 million at today’s tender, but the ministry wasn’t satisfied with the yield level, central bank data showed.
At the previous similar auction May 10, the ministry sold RON600 million in seven-year paper at an average annual yield of 5.03%.
The ministry sold state treasuries worth RON2.15 billion in June, below its RON2.98 billion target.
So far in 2013, Romania sold RON26.81 billion in leu-denominated notes and EUR1.08 billion at two euro-denominated auctions on the local market. The ministry also tapped international markets for $1.5 billion at a US dollar-bond auction in February. (EUR1=RON4.487)