Banks offered RON780 million, but the ministry wasn’t satisfied with the yield level, central bank data showed.
The bond was last reopened in July, when the ministry raised RON575 million at an average yield of 3.3% a year.
The ministry plans to sell debt in local currency worth RON3.24 billion in August, down from roughly RON4.47 billion in the previous month. Also this month, the institution hopes to raise at least EUR250 million at a five-year Eurobond sale on August 11.
So far in 2014, the country sold RON28.37 billion in leu-denominated notes. The ministry also tapped international markets for $2 billion at a two-part U. S. dollar bond issue in January, and raised EUR1.25 billion in a ten-year Eurobond sale in April. (EUR1=RON4.4336)