The ministry planned to sell RON600 million worth of paper at today’s auction. Banks offered a total of RON943.8 million, but the ministry rejected all yields above 7.48% a year, central bank data showed.
At the latest similar auction May 26, the ministry sold a planned RON500 million of 10-year paper, at 7.45% annual average yield.
The ministry announced plans to sell debt worth RON4.3 billion in June, but it managed to sell only RON3.7 billion worth of paper in this month’s five auctions.
So far this year, Romania sold roughly RON30 billion in leu-denominated state notes. Additionally, a three-year foreign currency bond auction held May 4 has brought the ministry EUR939.2 million, while an international debt sale early June raised EUR1.5 billion. (EUR1=RON4.2294)