The ministry had planned to sell RON700 million in debt at today’s auction. Banks offered RON2.73 billion, but the ministry rejected all yields above 5.99% a year, central bank data showed.
At the latest similar auction September 3, the ministry sold RON931 million of eight-month paper at an average yield of 6.11% a year.
Romania expects to sell RON3.3 billion in debt this month, up from RON1.4 billion sold in August.
So far in 2012, the ministry sold roughly RON42 billion in leu-denominated state notes and $2.25 billion in US dollar-denominated bonds.
Last week, Romania raised another EUR750 million in a tap of its 6.5% June 2018-dated eurobond at an annual yield of 5.15%, below the initial guidance of 5.25%. (EUR1=RON4.4792)