The ministry had an indicative target of RON1.5 billion for today’s tenders. Banks offered a total of RON3.5 billion.
The institution sold a planned RON1 million of one-year bills at an average yield of 1.93% a year, the lowest rate on record for such maturity. In June, the ministry sold RON800 million of one-year paper at 2.52% a year.
Also today, the ministry launched a new 10-year bond, raising RON687 million at an average yield of 4.23% a year. The indicative target for the bond, which matures in February 2025, was RON500 million. The issue will be reopened at a non-competitive sale tomorrow in a bid to raise another RON75 million.
The ministry sold debt worth 4.42 billion so far this month, above its initial target of RON4.1 billion.
So far in 2014, the country sold RON28.33 billion in leu-denominated notes and EUR678.7 million at three 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. (EUR1=RON4.3873)