The ministry planned to sell RON700 million at Monday’s auction. Banks offered RON1.2 billion, but the ministry wasn’t satisfied with the yield level.
At the latest similar auction November 7, the ministry sold RON1 billion in one-year paper at an average yield of 6.64%.
The ministry sold debt worth RON3.93 billion in November, down from RON4.5 billion targeted.
So far this year, Romania sold around RON47.65 billion (EUR10.93 billion) in leu-denominated state notes. Additionally, two foreign currency bond auctions have brought the ministry EUR1.4 billion, while an international debt sale early June raised EUR1.5 billion. (EUR1=RON4.3587)