The ministry planned to sell RON400 million paper at today’s auction. Banks offered RON617.5 million, but the ministry rejected part of the orders because of high yields. The issue will be reopened tomorrow in a bid to raise RON60 million at a supplementary non-competitive sale.
At the most recent reopening of the bond in July, the ministry sold RON300 million of 10-year paper at an average yield of 4.14% a year.
The ministry plans to sell a little over RON3 billion in state treasuries in September.
So far in 2014, the country sold RON28.5 billion in leu-denominated notes and EUR928.7 million at four euro-denominated auctions on the local market.
The ministry also tapped international markets for $2 billion at a two-part U. S. dollar bond issue in January, and raised EUR1.25 billion in a ten-year Eurobond sale in April.