The ministry sold a planned RON800 million in 11-month treasury bills at an average yield of 1.9%, the lowest on record at Romania’s state paper auctions. Book orders amounted to RON2.94 billion, but the ministry stacked to the financing plan.
Additionally, the ministry raised RON500 million in notes due May 2015, at a similar average yield of 1.9% a year. The demand was for RON1.4 billion worth of paper.
The yields were significantly lower than 2.55% at the end of September, when the ministry last sold 6-month bills, and 2.22% at an auction for 12-month notes at the beginning of September.
In October, the ministry sold RON3.5 billion worth of government debt at auctions on the local market, and last week raised EUR1.5 billion in a 10-year Eurobond.
So far in 2014, the country sold RON33.15 billion in leu-denominated notes and EUR928.7 million at four euro-denominated auctions on the local market.
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.