The ministry planned to raise RON300 million at Thursday’s auction. Banks offered RON631 million, but the ministry wasn’t satisfied with the yield level.
At the latest similar auction October 20, the ministry sold RON182 million in three-year paper at an annual yield of 7.49%.
The ministry plans to sell debt worth RON4.5 billion in November, more than double from RON2.13 billion sold a month earlier.
So far this year, Romania sold around RON46.9 billion (EUR10.7 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=RON4.3564)