At the previous similar tender in March, the ministry sold RON300 million of seven-year paper at an average yield of 2.58%, an all-time low for this maturity.
Banks offered to buy RON1.1 billion at today’s auction but the treasury stuck to its issuance plan. The maximum accepted yield was 2.37%, central bank data showed.
The issue will be reopened tomorrow in a bid to raise RON45 million at a supplementary non-competitive sale.
The ministry plans to sell RON2.7 billion in state treasuries in April, down from RON3.3 billion in February. So far this year, the ministry raised RON12.3 billion at bond auctions on local market. (EUR1=RON4.3965)