The ministry had planned to sell debt worth RON400 million at the tender. Banks offered RON700.4 million, but the ministry wasn’t satisfied with the yield levels.
At the latest similar auction September 13, the ministry sold a planned RON300 million of two-year paper at an average yield of 6.1% a year.
The ministry plans to sell debt worth RON4.15 billion in October, slightly down from RON4.54 billion sold a month earlier. Additionally, the ministry will reopen a 2015 foreign currency bond on October 22 in a bid to raise EUR150 million.
So far in 2012, Romania sold RON44.64 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=RON4.5426)