Banks offered RON774 million, but the ministry rejected all yields above 7.32% a year.
At the latest similar auction April 4, the ministry sold a planned RON500 million in three-year paper at 7.29% average yield.
The ministry plans to sell debt worth RON4.8 billion in May, down from RON6.1 billion sold a month earlier.
So far this year, Romania sold roughly RON22 billion in leu-denominated state notes. Additionally, a three-year foreign currency bond auction held May 4 has brought the ministry EUR939.2 million.(EUR1=RON4.1065)