The ministry planned to raise RON700 million at Thursday’s auction. Banks offered RON979 million, but the ministry wasn’t satisfied with the yield level.
At the latest similar auction August 18, the ministry sold a planned RON600 million in three-year paper at an annual yield of 7.34%.
The ministry plans to sell debt worth RON4.7 billion in September, up from roughly RON2.6 billion sold a month earlier.
So far this year, Romania sold around RON40.7 billion (EUR9.47 billion) in leu-denominated state notes. Additionally, two foreign currency bond auctions have brought the ministry EUR1.4 billion, while an international debt sale early June raised EUR1.5 billion. (EUR1=RON4.294)