The ministry planned to sell paper worth RON500 million at Thursday’s auction. Banks offered RON2.4 billion, central bank data showed.
At the previous similar auction February 16, the ministry sold RON500 million in five-year paper at an annual yield of 6.75%.
The ministry already exceeded its issuance plan for March, of RON5 billion. It sold RON5.53 billion of paper in four out of seven auctions, and the remaining tenders are expected to raise another RON2.3 billion.
So far in 2012, Romania sold RON23.8 billion (EUR5.4 billion) in leu-denominated state notes. Additionally, the ministry sold $2.25 billion in 10-year US dollar-denominated bonds on the American market. (EUR1=RON4.3672)