At the previous similar tender in February, the ministry sold RON700 million of seven-year paper at an average yield of 2.53%, the 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 2.59%, 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 RON3.3 billion in state treasuries in March, down from RON4.7 billion in February. So far this year, the ministry raised RON10.1 billion at bond auctions on local market. (EUR1=RON4.4151)