Banks offered RON745.4 million at today’s tender, but the ministry refused all yields above 6.34% a year.
At the latest similar auction August 23, the ministry rejected all bids at a RON200 million sale, citing high yields.
Romania sold RON4.54 billion in debt this month, above its initial target of RON3.3 billion. In August, the country sold paper worth RON1.4 billion.
So far in 2012, Romania sold RON43.47 billion in leu-denominated state notes and $2.25 billion in US dollar-denominated bonds.
Early September, the country raised another EUR750 million via a tap of its 6.5% June 2018-dated eurobond at an annual yield of 5.15%. (EUR1=RON4.5092)